Unit 8, Quiz 2

What is NOT a benefit of the Free Enterprise System?

• Competition among businesses

• All of society controls production of goods

• Owners, investors, and employees receive the profits

• People can choose their jobs

A person who works for a business

• investor

• entrepreneur

• owner

• employee

the person who takes on the risk of starting a business

• owner

• employee

• investor

• competition

People who put money into a business to make a profit

• employees

• investors

• owners

• workers

In America's Free Enterprise system, which of the following has the greatest effect on the prices of goods?

• government

• commercials

• competition among sellers

• quality of the product

__________ is when a person or group becomes an expert in a certain subject or skill.

• Market Economy

• Specialization of Labor

• Industrialization

• Entrepreneur

Decide if the scenarios will increase or decrease the demand of products.

Groups:

(a) Increase

,

(b) Decrease

• pickles causes nightmares

• shampoo makes hair fall out

• 50% off Apple products

• Squishmallows drop their prices to $10

Which of the following is a positive impact of Ford's automobile?

• People's cars would break down very easily

• They cost more than most other cars at the time

• They got worse gas mileage than most other cars at the time

• People can travel faster than a horse and buggy

What do the three people below have in common?

• Susan B. Anthony

• Elizabeth Cady Stanton

• Alice Paul

• they all worked as judges

• they all fought for women to find jobs outside of the home

• they all fought for women's right to vote

• they all served in World War I

Which of the following is NOT an example of how Americans have modified the environment due to urbanization?

• building roads

• closing schools

• rising telegraph wires

• constructing tenements