#1 Free Enterprise System PRE-quiz

Another word use to describe a free enterprise system is

• communism

• nationalism

• capitalism

• none of the above

Under a free enterprise system, businesses in the US are allowed to do all of the following EXCEPT:

• decide how to operate their business

• price their products

• decide what products to sell

• all of the above

In a free enterprise system the government places ​ ​ (a)   ​restrictions on businesses and its citizens.

• minimum
• normal
• maximum
• abnormal

This nation's government does NOT use a free enterprise system:

If more than one person sells similar products to consumers, how do consumers benefit?

• the price of the product will most likely go up

• the quality of the product will remain the same

• the amount of goods available will be lower

• the price of the product will most likely go down

Which region did factories develop in the United States?

• in the South

• in the West

• In the Northeast

• in the Southwest

What is the main goal of an entrepreneur in America?

• Provide jobs to immigrants

• To make a profit

• To open lots of stores

• To retire rich

A government which uses a free enterprise system of economics, allows its citizens to ​ ​ (a)  

• all of the above
• start their own business
• spend money as they please
• purchase goods wherever they choose

Why did America begin manufacturing their own goods instead of buying them from Britain?

• They were fighting the British in the War of 1812.

• They decided they could make better products.

• They needed to create jobs in America.

• Thousands of skilled artisans left Britain and came to America to manufacture goods.

Under a free enterprise system, people must work in a profession that is chosen for them by the government:

• TRUE!

• That's CAP!