CH 3 Free Enterprise Economy

A combination of command, traditional, and free market elements can be found in what type of economy?

What do state unemployment programs provide?

What kind of economic system does the U.S. have?

What is largely responsible for the growth of a free enterprise system?

Who provides the service of national defense in our country?

A system in which people freely carry on economic affairs but are subject to some government regulation

The driving force that encourages people to improve their material well-being.

Economic action done or brought about by free choice

What protect consumers against harm from products on the market?

What do state unemployment programs provide?

A general rise in the level of prices over time?

A wage that is the lowest legal wage that can be paid to most workers

Someone who organizes and manages land, capital, and labor to make a profit

A rise of prices that harms many people because their incomes do not increase to keep up with rising costs.

The struggle among sellers to attract consumers.

In a free enterprise economy, who decides what gets produced?

Voluntary exchange is a characteristic of what type of economy?

This act established a federal retirement benefit that covers most working people.

The idea that the consumer is the ruler of the market.