Economics Ch. 3 American Free Enterprise

Economics Ch. 3 American Free Enterprise

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Kari Miller

FREE Resource

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19 questions

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1.

FLASHCARD QUESTION

Front

Business Cycle

Back

The ups and downs in the economy, like times of growth and times of recession.

2.

FLASHCARD QUESTION

Front

OSHA

Back

The agency that makes sure workplaces are safe for workers.

3.

FLASHCARD QUESTION

Front

Positive Externality

Back

A good effect on someone who didn’t pay for it, like a nice park that everyone can enjoy.

4.

FLASHCARD QUESTION

Front

Key Economic Rights in Free Enterprise System

Back

Rights that allow people to own businesses, make profits, and compete fairly.

5.

FLASHCARD QUESTION

Front

Role of Government in Free Enterprise System

Back

The government helps ensure fairness, safety, and that rules are followed, but doesn’t control all businesses.

6.

FLASHCARD QUESTION

Front

Example of Public Goods

Back

Things like parks or streetlights that everyone can use without paying for them directly.

7.

FLASHCARD QUESTION

Front

Free Rider

Back

Someone who benefits from a public good without paying for it.

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