Free Enterprise
Free enterprise is also known as...
American Enterprise System/ Capitalist System
A capitalist system that gives rights to own and exchange private property voluntarily
Free Enterprise/ American Enterprise System
What is a producer?
Which clothing businesses/companies are good for selling shoes?
Converse/ Nike/ Adidas/ PUMA/ Skechers/ Hibbetts Sports/ Shoe Department/
The United States is not a free enterprise.
False
The Free Enterprise System is...
a free market economy
A person who owns a business
Entrepreneur
What is a consumer?
Mcdonalds and Burger King are companies that are from which industry?
The Food Industry
Free enterprise supports entrepreneurship
True
Market
Rights to decide which legal agreements they want to enter into.
Free Contract
What is the role of a producer?
To seek profits
The government encourages businesses to
Compete
Private Property is owned by the government.
False
Without the interference of government, businesses can compete for...
Profits
Resources in a country's economy is owned by the people.
Private Property
What is the role of a consumer?
Help determine producers what products to sell/ To buy products
Give an example of opening/creating businesses in the free enterprise system.
Opening a coffee shop/ creating an online business/ opening a hospital
A free market economy is self-regulating
True
The Free enterprise system only exists in a democratic country. Is the free enterprise system democratic capitalism?
Yes
A company that accepts low profits to strengthen its position and earn higher profits in the future is an example of?
Profit Motive
What is a con of being a consumer?
Health Issues/ Can't make the products they buy/ Encourages debt/ People can't buy products
Name 5 food chains that are popular nationwide in the U.S.
Mcdonalds/ Subway/ Taco Bell/ Chick-fil-A/ Burger King/ Wendy's/ Dunkin' Donuts/ Domino's/ Pizza Hut/ Olive Garden/ Dairy Queen/ Panda Express/ Chilli's/ Zaxby's/ Golden Coral/ Wingstop/ Hooters/ Dave & Busters/ iHop
More businesses that are similar will open if those businesses bring in a lot of profit.
True