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Innovation allows producers to |
create goods that draw consumer attention |
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In a free-enterprise system, producers decide |
how much to charge. |
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What kind of economy uses a free-enterprise system? |
a market economy |
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In free-enterprise systems around the world, there are |
some restrictions on business ownership and business activity. |
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Which group creates regulations in mixed-market economies? |
governments |
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What is one downside to competition in a free-enterprise system? |
Consumers must be knowledgeable. |
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What are aspects of a free-enterprise system? Check all that apply. |
There are few limits on the use of private property. Consumers make all of their economic choices. Producers make all of their economic choices |
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Which situation is the best example of competition in an economic system? |
A small CD store slashed its prices to attract customers from a larger store that sells CDs and DVDs. |
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Which situation is the best example of regulation in an economic system? |
NOT A retail business just opened a new store in a community close to its original location. |
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Competition happens when two or more businesses |
fight for the same benefit or gain |
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