Free Enterprise

The United States uses a free enterprise system of economics, allows its citizens to:

• Start their own business

• purchase goods wherever

• spend their money as they please

• all of the above

True or False:

Under a free enterprise system, people must work in a profession that is chosen for them by the government:

• True

• False

The amount of money a business earns when selling a good

• Profit

• Consumer

• Entrepeneur

• Competition

The government's job in a free market economy is to

• tell people and business what to do

• control who buys what

• control who sells what

• make sure all businesses are run fairly

What is the main goal of an entrepreneur or business owner in America?

• Provide jobs to immigrants

• To make a profit

• To open lots of stores

• To retire rich

Which of the following is an example of free enterprise system in America

• Thomas refuses to do his homework in history class.

• George decides to buy a new car instead of a used car.

• Juan cannot go to a baseball game because he has band practice.

• Alex is not allowed to vote because he is only 16.

In America, a person chooses or decides what job they want such as being a banker or a farmer. What type of economic system does the United States have?

• Communism

• Free Enterprise

• Traditional Economy

In the United States, people can choose or decide where to live, in what kind of house to live in, and what to buy. This type of economic system is called

• Traditional Economy

• Command Economy

• Free Enterprise Economy

Which situation best shows how consumers have choice in a free enterprise system?

• Emma is told she has to take the math test on Monday.

• Marcus chooses between three different cell phone plans.

• Ben gets assigned a locker at school.

• Ava must follow the dress code in class.

Which example shows a person making a decision based on profit?

• Jake mows lawns in the summer to earn extra money.

• Mia gets an A on her science test.

• Chris forgets to bring his trumpet to band.

• Sara plays video games on the weekend.