Posted by M on .
Check my answers please
1. Which of the following describe the role of an entrepreneur in a capitalist economic system? (I need to select 2)
A. Someone who combines the factors of production into a business
B. Someone who decides how much regulation the economy needs
C. Someone willing to risk loss and failure for profit
D. Someone with no ambition who assesses the market
E. Someone who represents the public authorities
My answers are a and b
2. Why was the Sherman antitrust act essential in protecting the American free market?
A. it curtailed the ability of the government to regulate the economy
B. It restricted monopolies and Fossard competition
C. Established the governments ability to regulate the economy
D. It began the free market system
My answer is b
3. The FDA is an example of government regulation in a mixed economy through enforcing laws about which of the following?
A. Truthfulness in advertising
B. Election fairness
C. Citizenship or work visas for all workers
D. Standards for product safety
My answer is d