U.S. Free Enterprise

U.S. Free Enterprise

12th Grade

15 Qs

quiz-placeholder

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U.S. Free Enterprise

U.S. Free Enterprise

Assessment

Quiz

Social Studies

12th Grade

Practice Problem

Hard

Created by

John Robinson

Used 3+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

business ownership by ordinary people, not the government

monopoly

private enterprise

federal reserve

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

basic principles of free enterprise system include freedom to own property and which of the following

freedom to make a profit

freedom of competition

freedom to take risks

all of the choices

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What does this curve represent?

demand

supply

equilibrium

shortage

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a market economy, who decides on the prices of goods and services?

government

buyers and sellers

firms

local leaders

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Typically, when households are shown on the right side of a circular flow model of a modified free enterprise system, businesses are located

on the left

in the center

at the top

at the bottom

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A modified free enterprise system

is dominated by elements of the command economic system

is dominated by elements of the traditional economic system

has no government involvement in the economy

has some government involvement in the economy

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Open opportunity helps to ensure that everyone is free to

be efficient

invest in stocks

start businesses

maximize production

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