A ___ system is an economic system in which the government has little to no involvement

What are the ___ of the free enterprise system

PILLAR #1: Businesses are run by individuals, not the national or state government.

All of the following are EXAMPLES of a private enterprise EXCEPT

PILLAR #2: Private enterprises operate to earn a profit or money.

Goal of every company = ___ (money coming in) exceeds ___ (money going out), which equals ___.

PILLAR #3: There is more than one company performing a similar service or selling similar goods.

Which economic system follows the patterns set by elders and ancestors?

Government ___ make sure businesses operate fairly and safely.

During the Progressive Era, the federal government passed laws that required ___ to meet basic safety standards to protect workers.

PILLAR #4: Citizens have the opportunity to own their own property.

When only one company offers a good or service is known as a ___.

In Texas, James Hogg created a(n) ___ to keep these companies from raising prices to ship goods and transport people.

PILLAR #5: The customer has the power in the economy.

___ is a fancy word for "power".

Who decides what is produced and used in a command market economy?

In the video, which product was used as an example was used to illustrate the Law of Supply and Demand?

The amount of a product/good available directly equals the amount of the product/good that people want to buy is known as the ___.

Which economic system is practiced in the United States?