Entrepreneurship and Free Enterprise Quiz

How is the Entrepreneur both the Spark Plug and the Catalyst of the free enterprise system?

Explain each of the 6 characteristics of a successful entrepreneur according to the US Small Business Administration?

How do consumers ultimately determined what gets produced?

What is Consumer Sovereignty?

Explain the role of government in a free enterprise economy. Explain how government is the Protector, Provider, Regulator, Consumer

Define each of the following Economic and Social Goals and explain why they are important.

• Economic Security

• Economic Equity

• Full employment

• Economic Freedom

• Economic Efficiency

Rank in importance a societies economic and social goals- Number 1 through 8 from most important to least important (they all are important)

• Full employment

• Economic Security

• Economic Freedom

• Economic Efficiency

• Economic Equity