Free Enterprise

True or False: The government can't take your property without just compensation.

• True
• False

This concept insures that everyone can compete in the marketplace by opening a business:

• profit incentive
• legal equality
• open opportunity
• open market

The concept of giving everyone the same legal rights, equal protections & due process of law.

• profit incentive
• legal equality
• open opportunity
• open market

The concept that people have the right and privilege to control their possessions as they wish.

• legal equality
• open opportunity
• private property
• profit incentive

The concept that people may decide what and when they want to buy and sell goods & services

• voluntary exchange
• legal equality
• private property
• open opportunity

An economic system in which businesses compete against one another free of government control

• Socialism
• Free Enterprise
• Product
• Marketing

What is the main goal of Free Enterprise

• Economic Freedom

• Friendship

• Profit

• Acceptance

Adam Smith was not a contributer to the Free Enterprise

• True

• False

What is a producer?

• People who buy goods

• People who make and sell goods

• People who eat goods

• None of the above

Is a consumer someone who buy and use goods and services.

• True

• False