US Free Enterprise System

In the capitalist system, the term "laissez faire" is best defined as..

• intervention

• hands off

• regulatory

• security

Private property can be owned in which economic system?

• communism

• capitalism

• feudalism

• command economy

What does the ability to own private property (home or business) encourages people to do? (choose any that apply)

• take care of their property

• earn a profit

• support higher tax rates

• be efficient in using resources

• demand more gov't intervention

In the US Free Enterprise system you would find ...

• competition between businesses

• gov't intervention in most transactions

• no ownership of private property

• complete unselfishness between consumers & producers

How does competition between business benefit consumers?

• higher prices

• better products

• lower taxes

• better service

How is the gov't involved in the US Free Enterprise system?

• providing public services

• health/safety regulations

• determining what items businesses must produce

• limiting property transactions of individuals