The Capitalist Free Enterprise System

Most economies allow consumers to engage freely in the market, subject to some governmental regulation, known as:

Two goals prioritized within a market economic system include:

Government in the US lays a foundation for the market to thrive by ensuring:

An example of limited government in the free enterprise system is:

This factor of production is uniquely significant to the Free Enterprise system?

Two economic goals prioritized within planned economic systems include:

Which characteristic of the market exists because a society must guard against negative impact of economic decisions?

When the market can't provide for services that everyone needs they are made ______ to guarantee access.

In a market system the invisible hand guides production and consumption creating economic:

All economies answer these three economic questions:

In a planned economy the ____________ answers the economic questions and sets the goals.

The ability for producers to act in their own best interest, exemplifies:

The hallmark, driving force, behind the free enterprise system is:

A core American belief that people can keep or dispose of their things at will, exemplifies:

When Ford ends its EV line and builde F150's, it's answers which economic question?

This goal in our system is demonstrated by unemployment payments when layed off & food stamps

A key indicator to measure the size of an economy is:

Countries that adopt market principles and increase incentives and productivity, usually have a:

Businesses will only start in the marketplace if there is the opportunity for a:

Overall standard of living is higher in market based countries because producers have incentive to:

Highly productive market economies tend to embrace more:

In the product market, what flows to households?

In the Soviet Union, the government instituted "collectivization" when they:

What economic questions is addressed when a store creates an app for you to purchase on and offers home delivery?

The free enterprise concept that people can spend $ where they choose, exemplifies:

In a socialist economic system, productive resources are:

We all have the same legal rights to seek education and compete in the marketplace, this is:

A strength of the United States market economy is that it can:

In capitalist economic systems the factors of production are owned by:

Once people make agreements, they are expected to do their part, exemplifies:

Who buys resources in the factor market?

What economic indicator is used to measure the size of a country's economy and standard of living:

Which is an example of how the government "ameliorates negative externalities"?

Government planned systems are inefficient because _________ are removed, leading to wasted resources.

America has passed anti-trust laws to protect _______ in the marketplace:

The fact that business production is driven by the desire for wealth exemplifies:

When Toyota builds a line of expensive SUV's and the affordable Carolla, what economic question are they addressing?

An economic system can be defined as...