Free Enterprise System
This term refers to the economic system where private businesses operate in competition and are largely free of state control.
What is capitalism?
This American tech company, founded in 1976 by two friends in a garage, became famous for its line of personal computers and later its smartphones.
What is Apple?
This American businessman is known for introducing the assembly line to automobile manufacturing.
Who is Henry Ford?
This food company, known for its instant mac and cheese, was founded in 1937 and has since become a staple in American households.
What is Kraft?
The freedom for individuals to own businesses and make their own choices is called this.
What is free enterprise?
Known for its delivery services, this company was founded in 1971 and is famous for its overnight shipping and purple-and-orange logo.
What is FedEx?
This entrepreneur is known for founding Microsoft and being one of the world's richest people.
Who is Bill Gates?
This Atlanta-based company is the largest beverage company in the world, known for its soft drink.
What is Coca-Cola?
This government agency was established to prevent monopolistic practices and protect consumers from unfair business tactics.
What is the Federal Trade Commission (FTC)?
This brand, known for its line of blue jeans, was founded in 1853 by a German immigrant who started selling dry goods to California gold miners.
What is Levi's (Levi Strauss & Co.)?
She turned a small catering business into a billion-dollar media empire and is known for her cooking and lifestyle advice.
Who is Martha Stewart?
This brand, known for its athletic footwear, was originally called "Blue Ribbon Sports" before rebranding in the 1970s.
What is Nike?
This type of economy blends free market and government regulations.
What is a mixed economy?
This American cereal brand was founded in 1906 and is known for being one of the first to use extensive advertising to promote its products.
What is Kellogg's?
He expanded his family's business into a global luxury hotel brand, known for creating the first hotel loyalty program.
Who is J.W. Marriott?
This brand, known for its "Always low prices," was founded by Sam Walton in 1962 and is now one of the largest retail chains in the world.
What is Walmart?
This term describes the negative side effects of a transaction that affect a third party, often used as an argument for regulation.
What are externalities?
This 1960s legislation removed restrictions on interstate banking and allowed the growth of nationwide banks.
What is the Bank Holding Company Act?
Known as the "Oracle of Omaha," he became one of the wealthiest people in the world by investing in undervalued companies through his company, Berkshire Hathaway.
Who is Warren Buffett?
Founded in 1854 by a French entrepreneur, this luxury brand is renowned for its monogrammed leather goods and is now one of the most valuable brands in the world, often associated with high fashion and status.
What is Louis Vuitton?