A Fun Quiz On The Importance Of Free Enterprise

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| By Tanya Mishra
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Tanya Mishra
Community Contributor
Quizzes Created: 606 | Total Attempts: 1,686,089
| Attempts: 164
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  • 1/10 Questions

    The rivalry between two companies to get more customers is called what? 

    • Business competition
    • Incentives
    • Inflation
    • Voluntary exchange
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About This Quiz

We heartily welcome you to this quiz on the importance of free enterprise! A free enterprise is an economic system in which businesses operate without governmental intervention. You will surely love the quiz if you're an economics student. Please make sure to read all the questions very carefully before answering. You can even take this quiz for better preparation for your examinations. So, make sure to attempt the questions well. There's no time limit on the quiz, so feel free to try it as many times as you want! Keep learning and have fun! Good Luck!

A Fun Quiz On The Importance Of Free Enterprise - Quiz

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  • 2. 

    The study of businesses in small parts is called what? 

    • Politics

    • Macroeconomics

    • Microeconomics

    • Business studies

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  • 3. 

    Which of the following is one of the best ways to measure the economic well being of a country? 

    • Fiscal policy

    • GDP

    • Stock market

    • Total net worth

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  • 4. 

    The person who doesn't pay for the use of certain goods or services but benefits directly from them?

    • Custoner

    • Free rider

    • Equal rider

    • None of the above

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  • 5. 

    What tracks the prices of goods and services in the economy, while providing the government with information about inflation?

    • Consumer Price Index

    • GDP

    • Price Comparison Chart

    • None of the above

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  • 6. 

    Which of the following is NOT an example of public good? 

    • A shopping mall

    • A public park

    • A national park

    • None of the above

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  • 7. 

    How does the new technology affect the economy? 

    • It makes the economy weaker

    • It decreases the number of jobs in the market

    • It makes the economy more efficient and strong

    • It has no effect in the economy

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  • 8. 

    An exclusive right to an invention or a brand-new product is called what? 

    • Distribution rights

    • Copyrights

    • Incentive

    • Patent

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  • 9. 

    How does government protect the new product or invention from being duplicated?

    • Entrepreneurship

    • Copyright

    • Public Disclosure Law

    • Patent

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  • 10. 

    Which of the following is an example of a prolonged period of growth or decline in the economic market that has a direct impact on people's finances?

    • GDP

    • Business cycle

    • Recession

    • Inflation

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Quiz Review Timeline (Updated): Aug 16, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Aug 16, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • Nov 11, 2022
    Quiz Created by
    Tanya Mishra
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