Free Enterprise Check For Understanding

In a free enterprise system the government places ​ ​ (a)   ​restrictions on businesses and its citizens.

• minimum
• normal
• maximum
• abnormal

If more than one person sells similar products to consumers, how do consumers benefit?

• the price of the product will most likely go up

• the quality of the product will remain the same

• the amount of goods available will be lower

• the price of the product will most likely go down

What is the main goal of an entrepreneur in America?

• Provide jobs to immigrants

• To make a profit

• To open lots of stores

• To retire rich

Under a free enterprise system, businesses in the US are allowed to do all of the following EXCEPT

• decide what products to sell

• decide how to operate their business

• price their products

• they're allowed to do all of the above

The concept that people have the right and privilege to control their possessions as they wish.

• legal equality
• open opportunity
• private property
• profit incentive

The concept that people may decide what and when they want to buy and sell goods & services

• voluntary exchange
• legal equality
• private property
• open opportunity