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:

Trade Flow

The movement of goods and services across borders, representing the import and export activities between countries.

Euro

is the official currency of 19 out of the 27 European Union countries, which together make up the Eurozone.

Exchange Rate

The value of one currency for the purpose of conversion to another.

Yuan

The basic unit of currency in China, also referred to as Renminbi (RMB).