Freedom of Enterprise

question 16

Multiple Choice

Freedom of enterprise

• A) is a characteristic that is common to most economic systems.
• B) in a market system means that entrepreneurs can obtain and use economic resources without any legal restraint.
• C) allows businesses, within broad limits, to choose what goods to produce.
• D) refers primarily to the right of consumers to purchase what they want.

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Definitions:

Additional Ton

A unit of measure representing an extra quantity of a product or material, beyond the original calculation or expectation, typically used in contexts related to shipping, production, or environmental impact.

Radishes

Edible root vegetables with a peppery flavor, often red, white, purple, or black, used in salads and as a garnish.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision; it represents the benefits missed when choosing one option over another.

Consumer Goods

Items bought by the typical consumer for personal use.