Pillars of Free Enterprise

Match each of these terms with their definitions

• customer sovereignty

• more than one company performing a similar service or selling similar goods

• competition

• private enterprises operate for the purpose of making money

• private property

• the power to spend your money the way you want

• private enterprise

• businesses are run by individuals rather than the government

• profit motive

• citizens can own their own stuff

Coke vs Pepsi vs RC vs generic

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

Everybody wants to make money.

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

Jennifer wants to buy a computer.

She checks the power and specifications for each computer and decides which one she wants to buy.

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

KFC, Church's, Bush's, Popeye's

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

The government cannot take ownership away from something you own.

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

Julio wants to start a business washing neighborhood cars to make money.

Which two Free Enterprise pillars does this scenario fit under?

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

Angela just bought a new car!

It belongs to her and no one else, because she bought it.

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

A family decides to design and produce Christian themed T-shirts.

Another family says, "What a great idea!" and also decides to create and sell Christian themed T-shirts.

This is an example of which of the following? Choose the best answer.

• private enterprise

• profit motive

• competitition

• private property

• customer sovereignty

Match the statement with its pillar of free enterprise.

• profit motive

• Jimmy starts a company selling stinky widgets.

• customer sovereignty

• Whoever buys the stinky widget owns the stinky widget.

• private property

• Jimmy wants to make money selling stinky widgets.

• private enterprise

• Eddie starts a company selling stinky widgets that takes business away from Jimmy.

• competition

• Customers can choose whether they buy Jimmy's stinky widget, Eddie's stinky widget, or no one's, because they think stinky widgets are a waste of money.