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Free Enterprise Quiz

Authored by Hector Elizalde

Social Studies

12th Grade

Used 2+ times

Free Enterprise Quiz
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Free enterprise system is also called

Free Market Economy

Free Life Economy

Free Money Economy

Free Business Economy

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If there is a high demand, but low supply of a product the price will...

be the same

be higher

be lower

change randomly

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Buying bubble gum and a soda from the gas station makes you a

producer

service

consumer

employee

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When the supply for a product is high, but the demand for the product is low, the price will

be higher

be the same

be lower

change randomly

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Making lemonade and selling it at a lemonade stand for 25 cents makes you a

producer

giver

consumer

employee

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a free market economy people can

only buy or sell what the government says

run any business they want

choose a business from a list of options

only buy goods

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The struggle among sellers to attract consumers is known as

consumer sovereignty

voluntary exchange

profit motive

competition

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