Characteristics of free enterprise

Characteristics of free enterprise

9th - 12th Grade

10 Qs

quiz-placeholder

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Characteristics of free enterprise

Characteristics of free enterprise

Assessment

Quiz

Social Studies

9th - 12th Grade

Practice Problem

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Created by

B. Abd

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Free enterprise system is also called

Free Market Economy

Free Life Economy

Free Money Economy

Free Business Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This economic system is based on competition, profits, and self-interest.

Socialism

Communism

Capitalism

Command economy

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Capitalism is based on the _______ ownership of wealth.

private

public

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Free Enterprise System:

Also known as “ Capitalism and “ Market Economy

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What type of economic system did Adam Smith support?

a free market system

mixed economic system

planned economic system

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Producers (business) are free to sell their products at what ever price they wish, and Consumers (customers) are free to refuse to buy. This is part of which Characteristic of Free Enterprise?

Economic Freedom

Voluntary Exchange

Private Property

Profit Motive

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Workers can choose any job they want when they start their careers. What Characteristic of Free Enterprise is being described?

Economic Freedom

Voluntary Exchange

Private Property

Profit Motive

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