One way that competition helps build a prosperous society is by

Besides motivation, what does profit provide business owners in particular?

A hurricane that destroys a business is an example of a(n) __________ risk.

What action do consumers take that determines what will be produced in a market economy?

The act of reducing or removing risks by shifting the risk factor to another person or business is referred to as __________ risk.

Lack of economic growth is a major problem for __________ economic systems.

Burger King and McDonald’s are examples of

Individuals and businesses own the means of production and distribution with limited government regulation in a __________ economy.

One way that competition benefits business is by encouraging the creation of

Which of the following types of economic systems adopts the fewest new ideas or improvements:

A major problem for individuals and private businesses in a socialist command economy is

The automobile industry, the pharmaceutical industry, and the oil industry are all examples of

Which of the following is an example of a business risk that cannot be covered by insurance?

What type of market structure is most commonly found in a private enterprise economy?

The money spent to run a business is called

When a business keeps a risk because management is unaware of it, the business is __________ the risk.

What type of economic system is used in the United States?

When Maura purchased a new car, she was able to get part of the purchase price back from the car’s manufacturer. The car’s manufacturer engaged in

The way in which an economic system answers the basic economic questions depends upon the country’s