Free Enterprise and Capitalism Concepts

What is the combination of Capitalism and Free Markets known as?

• Socialism

• Free Enterprise

• Communism

• Monopoly

Which of the following is a characteristic of Free Enterprise?

• Government Ownership

• Economic Freedom

• Central Planning

• Price Controls

In a Free Enterprise system, who primarily owns the resources?

• The Government

• Private Individuals

• Foreign Entities

• Public Corporations

Which characteristic of Free Enterprise involves the ability to buy and sell freely?

• Voluntary Exchange

• Profit Motive

• Competition

• Economic Freedom

What is one characteristic of economic freedom in free enterprise capitalism?

• Freedom to choose your job

• Government assigns jobs

• Limited choice in buying goods

• No freedom to hire workers

In a voluntary exchange, who chooses to engage in the market?

• Only the government

• Only the buyer

• Both buyer and seller

• Only the seller

What does private property allow people to do in free enterprise capitalism?

• Only rent property

• Own and control property

• Share property with everyone

• Only use government property

What is one characteristic of free enterprise capitalism related to profit?

• Desire to improve material well-being

• Limiting investment risks

• Reducing operating costs below revenue

• Guaranteeing limited products and services

What does competition in free enterprise capitalism aim to do?

• Increase prices for consumers

• Attract consumers using low prices and best products

• Limit the number of producers

• Waste resources

What is one benefit of free enterprise capitalism related to personal choice?

• Individual Freedom

• Government Control

• Limited Options

• Fixed Prices