In capitalism, who primarily owns the resources and means of production?
Free Enterprise

Flashcard
•
Social Studies
•
8th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Private individuals
2.
FLASHCARD QUESTION
Front
What is meant by 'Consumer Sovereignty' in a free market?
Back
Consumers dictate what goods are produced.
3.
FLASHCARD QUESTION
Front
How are prices determined in a capitalist economy?
Back
Through competition
4.
FLASHCARD QUESTION
Front
What is the primary goal of businesses in a capitalist economy?
Back
To maximize profits
5.
FLASHCARD QUESTION
Front
Which of the following best describes 'Free Enterprise'? Options: Government-controlled businesses, State-owned enterprises, Community-run businesses
Back
Businesses operating with minimal government interference
6.
FLASHCARD QUESTION
Front
What does consumer sovereignty mean in a capitalist economy?
Back
Consumers dictate what is produced.
7.
FLASHCARD QUESTION
Front
What does consumer sovereignty mean in a capitalist economy?
Back
Consumers dictate what is produced
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