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Private Enterprise and Business Ownership

The United States is often referred to as a ___________ because individuals, not the government, own the majority of the resources.

Public system

Private system

Institutional system

Planned system

What kind of services are in the public sector?

Restaurants

Parks & Recreation

Health Care

Manufacturing

Police

Education

Discounts, coupons, rebates and specials are all examples of _________.

A monopoly

Price competition

A franchise

A market economy

An oligopoly is...

A lot of small businesses in a market where few consumers want or need those firms' products.

A lot of large businesses in a market where many consumers want or need those firms' products.

Few small businesses in a market where few consumers want or need those firms' products.

Few large businesses in a market where many consumers want or need those firms' products.

The money left after paying the expenses of doing business is called _____________.

The opportunity cost

Revenue

Taxes

Profit

An individual who takes the risk of starting a new business is called a(n) _________.

Employee

Entrepreneur

General partner

Stockholder

A business owned by two or more persons is called a(n) _________.

Enterprise

Corporation

Partnership

Entrepreneurship

What are some examples of a cooperative?

Credit unions

Public schools

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