Free Enterprise and Regulation

The disadvantage(s) of free enterprise capitalism is (are) 

• uneven economic growth
• growing gaps between rich and poor
• large "supply side" tendencies
• All answers are disadvantages of free enterprise capitalism

These are people who start new businesses to seek profits.

• consumers
• entrepreneurs
• modified free enterprisers
• free enterprisers

This is the role of the consumer as ruler of the market determining the types of goods and services produced.

• consumer sovereignty
• producer sovereignty
• entrepreneur
• free enterpriser

These are the three roles that the government has in the economy.

• protector
• provider
• regulator
• all of the answers are correct

This is the rise in the general level of prices.

• fixed income
• inflation
• minimum wage increase
• all the answers are correct

This the lowest legal wage that can be paid to most workers.

• inflation
• minimum wage
• social security
• fixed income

Income that does not increase over time.

• fixed income
• adjustable income
• medicaid
• minimum wage

Federal program of disability and retirement benefits that covers most working people.

• inflationary income
• fixed income allowance
• American Security
• Social Security

Federal health insurance program for senior citizens, regardless of income.

• Medicaid
• Medialert
• Medicare
• Medicarpel

Sometimes goals are in conflict and there are opportunity costs associated with achieving goals. These are caused by...

• trade-offs
• inflation
• cost cutting
• all of the answers are correct