Free Enterprise System

What is another term for the Free Enterprise System?

• Socialism

• Capitalism

• Communism

• Feudalism

What is at the core of a market economy in the Free Enterprise System?

• Government control

• Individual choice

• Collective ownership

• Central planning

What is the primary motivation behind starting a business in the Free Enterprise System?

• Social welfare

• Profit motive

• Government subsidies

• Charitable donations

What do consumers base their choices on in the Free Enterprise System?

• Government regulations

• Opportunity for charity

• Money available

What principle ensures that everyone enters and competes in the marketplace at their own will in the Free Enterprise System?

• Legal equity

• Open opportunity

• Free contracts

• Government oversight

What does legal equity ensure in the Free Enterprise System?

• Equal outcomes for all

• Equal distribution of resources

• Equal freedoms to buy and sell

• Equal government subsidies

What principle of the Free Enterprise System allows people to enter contracts at their own will to work, buy, or sell?

• Open opportunity

• Legal equity

• Free contracts

• Government oversight

What aspect of the Free Enterprise System ensures that individuals have the right to own land, vehicles, and homes?

• Freedom to choose your business

• Right to private property

• Desire to make a profit

• Free competition

What principle of the Free Enterprise System allows businesses to compete against each other?

• Desire to make a profit

• Free competition

• Consumer freedom and rule

• Right to private property

In the Free Enterprise System, who decides whether a business succeeds or fails?

• Government regulators

• Business owners

• Consumers

• Labor unions