Which economic concept allows businesses to freely buy and sell goods as they see fit?A.Property rightsB.EntrepreneurshipC.Federal regulationD.Opportunity cost

In the U.S. free enterprise system, property rights give businesses the right to:A.ignore federal regulations while on private property.B.sell property in foreign markets without paying taxes.C.use their employees' property at any time.D.sell their property at any price they want.

What is an economic system in which production and prices are determined by unrestricted competition between privately owned businesses?ResponsesCommunist EconomyCommunist EconomyMarket EconomyMarket EconomyCommand EconomyCommand EconomyMixed Economy

What role do entrepreneurs play in a free enterprise system?A.They determine how property rights should be enforced.B.They operate government businesses to compete with corporations.C.They produce innovative new goods and services.D.They create economic regulations to protect citizens.

One of the major benefits of property rights in a free enterprise system is that:A.courts are able to force companies to sell property at fair prices.B.governments have more influence over property being bought and sold.C.businesses are free to sell their products at the prices they choose.D.consumers are able to freely use intellectual property from any business.

Which situation best illustrates the economic concept of opportunity cost?A.A business gives its employees a raise, so it cannot afford to buy any TV ads.B.A business takes out a large loan, so it is able to expand into a new market.C.A business decides to begin advertising its product in more foreign markets.D.A business plans to relocate to a new city after taxes increase in its home city.