Competition and Free Enterprise

Question 1

Which ideas or situations are consistent with the concept of free enterprise? Check all that apply.Consumers overwhelmingly prefer one sandwich shop to another.Local officials decide how much gasoline consumers can buy.A hair stylist decides to reduce prices on his services.A worker at a factory decides to take another job for higher pay.A government takes control of a nation's restaurant industry.A business owner decides to offer a new product for sale.

Revolt · Accepted Answer

Consumers overwhelmingly prefer one sandwich shop to another.; A hair stylist decides to reduce prices on his services.; A worker at a factory decides to take another job for higher pay.; A business owner decides to offer a new product for sale.

Question 2

Which best explains the benefits of the free enterprise system in the United States?

Revolt · Accepted Answer

The system encourages innovation through property protection and incentives.

Question 3

Use what you have learned to identify reasons that governments create regulations in mixed market economies. Check all that apply.to protect the health and safety of consumersto make sure that competition is limited as much as possibleto ensure that competition is fairto guarantee that all businesses will make moneyto educate consumers about specific products

Revolt · Accepted Answer

to protect the health and safety of consumers; to ensure that competition is fair; to educate consumers about specific products

Question 4

Question 4

Revolt · Accepted Answer

In a mixed market economy, government regulations are intended to both consumers and producers.: protect; Those who support regulation in the market argue that these laws , while those who are against government regulation argue that these laws .: protect everyone; Those who support regulation in the market argue that these laws , while those who are against government regulation argue that these laws .: are costly

Question 5

limithurt✔ protect

Revolt · Accepted Answer

✔ protect; In a mixed market economy, government regulations are intended to both consumers and producers.: protect; Those who support regulation in the market argue that these laws , while those who are against government regulation argue that these laws .: protect everyone; Those who support regulation in the market argue that these laws , while those who are against government regulation argue that these laws .: are costly

Question 6

X hurt everyonelimit everyone✔ protect everyone

Revolt · Accepted Answer

✔ protect everyone

Question 7

✔ are costlyX allow excessive freedomprotect wrongdoers

Revolt · Accepted Answer

✔ are costly

Competition and Free Enterprise Answers

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