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Free Enterprise

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.
In the United States, you may_______________.
a)
start your own business to meet a need
b)
decide what fees to charge for a service or product
c)
own and run any business as long as the laws are obeyed
d)
all of the answers are correct
2.
In the American Free Enterprise System, you have the right to buy or sell private property.
a)
True
b)
I do not believe that people should own property, or have the right to buy or sell it.
c)
False
3.
Everyone in today's technological world uses____________
a)
telecommuting
b)
cell phones
c)
financial resources
d)
information
4.

The amount of money a business earns when selling a good

a)

Profit

b)

Consumer

c)

Entrepeneur

d)

Competition

5.

Long ago, all books were copied by hand. Making new copies was a lot of work and took a long time. But the invention of the printing press made copying books faster and easier. What happened to the overall supply of books after the printing press was invented?

a)

The supply went up.

b)

The supply went down

6.

Weather forecasters predict this summer will be much hotter than usual. What will probably happen to the demand for air conditioners?

a)

The demand will probably go up

b)

The demand will probably go down

7.

The person who grows, makes or sells products is a …………..

a)

producer

b)

consumer

c)

goods

d)

business

8.

A person who buys and uses goods and services is a ………...

a)

goods

b)

services

c)

producer

d)

consumer

9.

Work done by others is ………………….

a)

goods

b)

service

c)

producer

d)

consumer

10.

Things that can be bought or sold are...………...

a)

producer

b)

consumer

c)

goods

d)

services