Economics Free Enterprise Quiz
Quiz by April MacNamee
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18 questions
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- Q1Economicsstudy of choices due to scarcity30s
- Q2Gets you to do something or act in a certain wayIncentive30s
- Q3Another name for Free Enterprise Economic SystemCapitalism30s
- Q4Government incentive money used to spread positive externalitiesSubsidy30s
- Q5Positive or negative effect of a transactionExternality30s
- Q6Goods and Services provided to us by our local, state and national governmentPublic Goods30s
- Q7Someone who benefits but doesn't contribute to the costFree-rider30s
- Q8Skills, training, degrees etc. needed to produceHuman Capital30s
- Q9Goods & services necessary for functioning of society- hospitals, schools, roads, communication etc.Infastructure30s
- Q10Example of a Negative ExternalityPollution30s
- Q11Key feature of free enterprise that allows consumers and producers to act in their own self interestVoluntary Exchange30s
- Q12Are used by the government to limit or stop negative externalitiesTaxes30s
- Q13Government establishes some protections and regulationsModified Free Enterprise30s
- Q14Small scale look at individuals, families and businessesMicroeconomics30s
- Q15Competition, incentive to work hard and freedom as producer and consumerAdvantages of Free Enterprise30s