Competition and Free Enterprise

Question 1

Why does the US government create regulatory agencies? Check all that apply.to create fair competition between producersto limit the knowledge of certain consumersto allow producers to have greater freedomto protect consumers’ health and safetyto prevent the formation of monopolies

Revolt · Accepted Answer

to create fair competition between producers; to protect consumers’ health and safety; to prevent the formation of monopolies

Question 2

What kind of economy uses a free-enterprise system?

Revolt · Accepted Answer

a market economy

Question 3

Jose realized that the only dining options in his community are at local restaurants where the wait time is often excessive. He decides to purchase and operate his own food truck in the area. Which indicates that Jose is exercising free enterprise?

Revolt · Accepted Answer

Jose can control how he conducts his food truck business.

Question 4

Innovation allows producers to

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create goods that draw consumer attention.

Question 5

A restaurant that creates a new type of sandwich is using as a method of competition.

Question 6

This photo shows a label that appears on food products in the United States.This label is an example of

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regulation by a government agency.

Question 7

Which is an example of regulation in the automobile industry?

Revolt · Accepted Answer

the creation of fuel-efficiency standards for cars

Question 8

In free-enterprise systems around the world, there are

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some restrictions on business ownership and business activity.

Question 9

Which group creates regulations in mixed-market economies?

Revolt · Accepted Answer

governments

Question 10

In a free-enterprise system, consumers decide

Revolt · Accepted Answer

which services to buy.

Competition and Free Enterprise Answers

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