6
QuizMultiple Choice

Technology and Economics — Unit test

Question 6 • 2102320-Economics HONORS - Edgenuity Teacher

Which situation best reflects the concept of free enterprise?

Answer
A
Consumers have a choice between two bakeries in a single city block.
B
An agency determines which supplements are safe for people to buy.
C
Local officials set the prices for all the gas stations in a community.
D
The government decides the minimum wage for all airline workers.

Explanation

Free enterprise means that private businesses compete and consumers can choose what to buy. Having two bakeries nearby gives consumers a choice and encourages the businesses to compete. The other situations involve government agencies or officials regulating safety, setting prices, or establishing wages.

AI-written and checked against the verified answer.

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