WorksheetsMercantilism v. Free Enterprise
Total questions: 15
Worksheet time: 8mins
TRUE or FALSE: The American economy allows individuals to purchase what they want, work where they want, and change jobs when they want.
TRUE
FALSE
What did European Countries BUY from the Colonies?
Raw Materials
Finished Products
What did the European countries do with the raw materials?
Turn them into finished products
Re-sell them to other Colonies
Re-sell them to other Countries
Trade them away
After round TWO, who benefited the most from the Navigation Acts?
France
Colonies
Spain
Great Britain
What is mercantilism?
A system where a mother countries gains money and power from natural resources that come from its colonies.
where colonies trade gold and silver with each other.
Wars that start over money.
Plantation colonies trading slaves for money.
True or False? Great Britain wanted to create wealth by importing more goods than it exported.
True
False
Which term means a good to sold another country?
Import
Export
The impact of mercantilism was that
The rate of slavery in the Americas went down
Trade was limited in the Atlantic
The Colony grew wealthy
The Mother Country grew wealthy
In a free enterprise system, the government places ________________ restrictions on businesses and its citizens:
minimum
maximum
normal
abnormal
A government which uses a free enterprise system of economics, allows its citizens to:
Start their own business
purchase goods wherever
spend their money as they please
all of the above
In a free enterprise system, the spending habits of _____ determine which products and services to offer:
Consumers
Government
Professors
Politicians
When two or more businesses produce and sell similar products and compete against each other
War
Competition
Game
Scarcity
Is Consumer preferences and spending habits are the main drivers of business decisions, not government policies and intervention. Your decision to open a coffee shop, start an online business, or choose to become a doctor are all examples of a free enterprise system at work.
True
False
Under a free enterprise system, businesses in the US are allowed to do all of the following EXCEPT
decide what products to sell
decide how to operate their business
price their products
they're allowed to do all of the above
