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Free Enterprise System Flashcards | StudBud
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Free Enterprise System
Free Enterprise System
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#Business #Technology
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
What is loss?
amount of money a business lost
amount of money a business gained
how much money a store is estimated to sell in a year.
how much a store is estimated to sell in 10 years.
2
When supply goes down and demand goes up...
Prices Stay The Same
IDK Again.
Prices Go Down
Prices Go Up
3
Democratic Economy
Government helps owners make economic decisions.
Business Owners Make Economic desicions
Consumers make all economic decisions.
People vote for rules over economy
4
What is the definition of profit?
The amount of money a producer loses from selling something.
The amount of money producers earn from selling products.
How much a producer sells in a certain time.
The Limit Of Supply In A Store Soled In A Day.
5
What is an example of competition?
2 stores working together to get money
Target Selling School Supplies in USA And Walmart in Europe.
People fighting in a boxing match.
2 stores trying to sell the same thing
6
When Supply Goes Up and Demand Is Low...
Price Stays The Same
I DONT KNOW
Price Goes Down
Prices Go Down
7
Who is the producer?
Person buying the lemonade
The parents of the Child that are sleeping
Child selling lemonade
Someone who passes by in a car
8
Which of these is an example of goods?
Private Chef
A PC
Servant
Dog Food
9
What is Free Enterprise?
Private Businesses Can Compete With SOME Government Control.
Private Businesses Can Compete Without Government Control.
Ex. If Walmart and Target are selling the same thing
Private Businesses Cannot Compete Because Of Govt. Control.
10
Capitalism...
Private owners of businesses control economic decisions.
Government has full power over profit earned everywhere.
Private owners need permission to control profit earned.
Government Cant Control anything businesses do.
