What is the main topic of the image related to?

What type of economy is primarily found in the United States?

• Command economy

• Mixed economy

• Traditional economy

• Socialist economy

Why is the United States considered to have a mixed economy?

• Because it has no government involvement at all

• Because it combines elements of both free market and government involvement

• Because it is fully controlled by the government

• Because businesses are not allowed to operate freely

What is one role of the government in the United States economy?

• To control all economic activities

• To provide free services only

• To protect consumers and businesses

• To own all businesses

What does the U.S. free market policy generally allow?

• Buying and selling with a lot of government interference

• Buying and selling without much government interference

• Buying and selling under strict government rules

• Buying and selling only specific goods

What is profit defined as in the context of operating a business?

• The total amount of money earned

• The money left after all expenses have been paid

• The initial investment in the business

• The total amount of money spent on supplies

Tags

CCSS.7.EE.B.3

What is the incentive for businesses to exist according to the image?

• To pay taxes

• To make a profit

• To cover all expenses

• To provide employment

Tags

CCSS.RI.4.7

CCSS.RI.5.7

CCSS.RI.6.7

CCSS.RL.5.7

CCSS.RL.6.7

What does the government encourage between businesses?

• Monopoly

• Cooperation

• Competition

• Isolation

Tags

CCSS.RI.5.2

CCSS.RL.5.2

CCSS.RL.6.2

CCSS.RI.4.2

CCSS.RL.5.1

What is the result of rivalry between businesses for the same customers?

• Higher prices and lower quality

• Lower quality and higher prices

• Better quality and higher prices

• Better quality and lower prices

Which of the following is an example of the private sector?

• Roads

• Schools

• Factories

• Courts

What determines what goods and services are produced according to the concept of Consumer Sovereignty?

• The government

• Consumers

• Manufacturers

• Retailers