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2.04 Private Enterprise Quiz Flashcards | StudBud

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2.04 Private Enterprise Quiz

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2.04 Understand the Role and Impact of Private Enterprise and Small Business Entrepreneurship

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Questions 10

Answers

1
One characteristic of a private enterprise is
Total government control
Free goods and services
The price-directed system
Public property
2
What is an entrepreneur?
Someone who studied hard in college
Someone with a well-paying job
An employee who helps their boss
Someone who starts and owns a new business
3
What is private enterprise?
Hidden companies in private locations
Businesses controlled and managed by the government
Illegal businesses that are managed in total secret
Businesses managed by independant companies or private individuals
4
What defines a small business?
A business that operates in a small location
A business that only hires once a year
A business with less than 500 employees
A business with more than 500 employees
5
All of these are limitations of private enterprise except.
Certain laws
Taxes
Personal choices
Their prices
6
Private enterprises are free to choose what they want to sell.
True
False
7
Private enterprises can choose
Their prices
What laws to follow
To pay taxes
Their location
8
Private enterprises are controlled mostly by the government.
True
False
9
What are disadvantages to private enterprise?
There are no disadvantages to private enterprise
Free products and services
Unemployment, poverty, unequal distribution of wealth
Private property, competition, freedom in the marketplace
10
Every business in the United States is a private enterprise.
True
False