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Free Enterprise System
Free Enterprise System
14 terms
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Key terms on the Free Enterprise System.
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1
African American who started a beauty products business with only a few dollars in 1906.
Spears
Winfrey
Williams
Walker
2
The amount of goods or services that people are willing to buy.
Supply
Utility
Scarcity
Demand
3
A person who starts a new business
Profit
Entrepreneur
Consumer
Customer
4
A good that one country sells to another
Deman
Import
Land
Export
5
We do not have a choice of products and services in this type of system
Mixed
Command
Socialist
Free Enterprise System
6
The amount of goods or services that is available
Demand
Supply
Utility
Scarcity
7
A good that one country buys from another
Cookies
Import
Export
Demand
8
There are not enough resources to meet all of our wants and needs
Scarcity
Utility
Supply
Demand
9
System for producing and distributing good and services
Economy
Supply
Free Enterprise
Engine
10
Something owned by individuals or groups, such as a house or car
Free Enterprise
Entrepreneur
Personal Property
Supply
11
A person or group that buys AND uses goods or services
Free Enterprise
Demand
Consumer
Customer
12
Famous inventor of electric light and others
Edison
Bond
J.J. Watt
Gates
13
The money a business has left after it has paid all its costs
Loss
Taxes
Expense
Profit
14
People are free to start their own business and own their own property
Democratic
Free Enterprise
Command
Mixed
