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Marketing I (Mr. Breitsprecher's Business Ed Home Page)

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©Mr. Breitsprecher & BreitLinks (www.breitLinks.com) All Rights Reserved. Free Enterprise
Marketing I
Free Enterprise Name: _____________________________
1. Please define what is meant by the term “free enterprise”
2. Please identify and describe three attributes of capitalism
A.
B.
C.
3. Is the U.S. Economy an example of free enterprise? Why or why not?
4. What are 4 economic freedoms and please give an example of each in the U.S. economy.
A.
B.
©Mr. Breitsprecher & BreitLinks (www.breitLinks.com) All Rights Reserved. Free Enterprise
C.
D.
5. What is meant by voluntary exchange? Please give an example.
6. What is the role of private property in free enterprises?
7. The profit motive says we may keep money we earn in businesses after we pay all expenses.
How does this drive our economy?
8. What is an entrepreneur and what role does entrepreneurship play in free enterprise?
©Mr. Breitsprecher & BreitLinks (www.breitLinks.com) All Rights Reserved. Free Enterprise
9. What is the role of buyers or consumers in a free enterprise system?
10. Why does government play a role in a free enterprise system?
11. What are the 4 roles of government? Please give an example of each.
A.
B.
C.
D.
12. All economies in the world are mixed, where we see economic freedoms and we see a role
for government – this is what defines free enterprise and capitalism. How does this define a
nation? (HINT: What does it mean to be “sovereign” or have “sovereignty”?)
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Completed 15 December 2020

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