Free Enterprise System
Presentation
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History
•
8th Grade
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Medium
Brooke Elliott
Used 17+ times
FREE Resource
10 Slides • 5 Questions
1
Free Enterprise System
The United States Economic System
2
3
Capitalism
• An economic system in which resources and
means of production are privately owned.
• Prices, production, and the distribution of
goods are determined mainly by competition
in a free market
4
Multiple Choice
True or False? Prices, production, and the distribution of goods are determined mainly by competition in a free market.
True
False
5
6
Competition
• The effort of persons or firms to attract
business by offering the most favorable terms.
7
Poll
Your Favorite?
Pizza Hut
Papa Johns
Domino's
Little Caesars
8
Multiple Choice
Private individuals own property and compete for profits in an open market.
Capitalism
Communism
Socialism
9
10
11
12
13
14
Multiple Choice
which of the following is not a characteristic of a market economy?
profit is the motivation for most businesses
supply and demand dictate price and production
competition between businesses is discouraged
15
Multiple Select
What are the three basic questions that every economic system must answer?
What's produced?
How's it produced?
Who sells it?
Who consumes it?
Free Enterprise System
The United States Economic System
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