AMERICAN FREE ENTERPRISE SYSTEM REVIEW
QUESTIONS
Review Questions
Directions: Read each main idea and answer the questions below. Refer to
your textbook as you write the answers.
A. The Role of the Entrepreneur
Main Idea: Entrepreneurs are vital to the success of a free enterprise
economy because they start businesses.
1. Why do entrepreneurs try to start businesses or develop new
products? Are they more likely to succeed or fail?
Entrepreneurs start a new business and products because they seek basic profit, but most tend
to fail than
succeed.
2. Who benefits from the activities of entrepreneurs, and how?
Everyone benefits primarily the consumers benefit a lot more than the others because they are
, rewarded with
better products, lower prices, high quality.
B. The Role of the Consumer
Main Idea: Consumers tell businesses WHAT to produce in our economy.
1. Why is the customer always right?
The consumer is always right because they decide What is produce, if the consumer likes the
product the producer gets a rewarded.
2. Explain how consumer sovereignty helps drive progress.
QUESTIONS
Review Questions
Directions: Read each main idea and answer the questions below. Refer to
your textbook as you write the answers.
A. The Role of the Entrepreneur
Main Idea: Entrepreneurs are vital to the success of a free enterprise
economy because they start businesses.
1. Why do entrepreneurs try to start businesses or develop new
products? Are they more likely to succeed or fail?
Entrepreneurs start a new business and products because they seek basic profit, but most tend
to fail than
succeed.
2. Who benefits from the activities of entrepreneurs, and how?
Everyone benefits primarily the consumers benefit a lot more than the others because they are
, rewarded with
better products, lower prices, high quality.
B. The Role of the Consumer
Main Idea: Consumers tell businesses WHAT to produce in our economy.
1. Why is the customer always right?
The consumer is always right because they decide What is produce, if the consumer likes the
product the producer gets a rewarded.
2. Explain how consumer sovereignty helps drive progress.
