What Is The Free Enterprise System? | History With Ms. H.

Free Enterprise basically means

• The government controls the entire economy

• The government needs to print more money so people have enough

• The government mostly stays out of the economy

Private enterprise means businesses are run by

• Individuals

• the Government

What is profit?

• Money earned by a business

• Doing the right thing

Competition means that _____

• everyone buys the exact same thing

• people have choices between different products

• people need to buy shoes

Private property means

• individuals can own products

• everyone has to share

• all people get a new car

Who controls a Free Enterprise economy?

• The government

• The customer

The price for toilet paper went up because

• Supply and demand were equal

• There was too much supply

• There was too much demand

The government passes and enforces laws to make sure businesses run fairly and safely

• True 

• False