The essential characteristic that differentiates human beings from animals is:
- A Our destructive capacity
- B Our rational mind
- C Our bodily strength
- D Our instinct for survival
Living in society is only beneficial if _________________.
- A We can interact with others in mutually beneficial ways
- B We can rule over others, making others sacrifice for us
- C We are born into wealth
- D Either B or C
Which of the following is NOT a reason why leaving people free to make their own choices in life is beneficial to society?
- A Freedom of choice leads to creativity and innovation
- B Creativity and innovate lead to better, more desirable products
- C Man cannot spontaneously act under physical force/coercion
- D The "law of survival of the fittest" applies not just to animals, but also to human beings
Which of the following is NOT a feature of the Free-Enterprise System?
- A A free-market economy that allows for voluntary exchange and a functioning price system
- B An economic policy that guarantees a "living wage" to all workers
- C A political system that recognizes and upholds individual rights to life liberty and property
- D A government that protects the equal rights and liberty of all its citizens
The proper role of government in a free society is to ______________________.
- A Uphold freedom & liberty
- B Protect citizens from criminals, fraudsters, and foreign aggressors
- C Use physical force only in retaliation against those who initiate force
- D All the above
All of the following are conditions of a properly functioning democratic system EXCEPT which?
- A One-party rule and suppression of dissenting views
- B Free and fair elections
- C Transparency and accountability of elected officials
- D All citizens are subject to the rule of law
When people are free, markets encourage suppliers to produce what consumers want Adam Smith called this:
- A Market Symphony
- B Market Confluence
- C Divine Direction
- D The Invisible Hand
One criticism of the Free-Market is that it harms our spiritual nature, encouraging greed and immorality. One reason this is false is _________________
- A The Free-Market leaves people free to think, invent, create, and live out their lives meaningfully – all spiritual endeavors
- B People unjustly assume that we lose our morality when we deal in money
- C Free-Market philosophy recommends giving tax breaks to churches, which is how it promotes spirituality
- D Both A & B
One criticism of the Free-Market is that it harms us psychologically, alienating us for our true nature and potential. One reason this is false is _________________________
- A Technology in a Free-Market, while it does limit our potential and impair our social skills, gives us opportunities to live out virtual lives online
- B Machinery, while it puts people out of work, gives us more personal time to arrive at "self-understanding"
- C Machinery, while it makes us poorer, puts us in better touch with nature and our primal selves
- D People in a Free-Market have the freedom to choose careers they find meaningful and leave lines of work where they are unhappy
Thanks to the Free-Market today we live in one of the healthiest, cleanest, wealthiest environments in human history
- A True
- B False
You came up just a bit short. But don’t let that dampen your enthusiasm for the free enterprise system. Either re-watch a few of the videos or take a minute and re-take the quiz.
"Without failure there is no achievement."
- John C. Maxwell
Congratulations! You passed this quiz. Although you didn’t get every answer correct, you did manage to pull a passing grade. You are on your way to being a successful entrepreneur.
"The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack of will."
- Vince Lombardi
lesson 1Introduction to the Foundations of Free Enterprise
lesson 2The Entrepreneurial Role: Business Planning and Development
lesson 3Running a Business: Marketing, Pricing and Promoting Products
lesson 4Leadership and Ethical Decision Making: Running a Business with Integrity
lesson 5The Intersection of Business and Government: Is it “Free” Enterprise?