Question

can you answer these

Which is an example of regulation in the automobile industry?

the creation of fuel-efficiency standards for cars
the installation of satellite radio systems in some cars
the usage of multiple-year warranties to cover repairs
the production of hybrid models that conserve gasoline

In a free-enterprise system, producers decide

how much to charge.
which services to buy.
where to shop for goods.
which goods interest them.

Carol has decided to advertise her custom-baked cakes in the local paper in the hopes that her sales could go towards purchasing a home.

Which incentive of the free enterprise system would help Carol?

Carol and the local officials can set the prices of her cakes.
Carol can use the money from her business to achieve her goal.
Carol can participate in a barter system for goods to goods.
Carol can meet a regulation for the number of local services.

Competition happens when two or more businesses

complement one another.
fight for the same benefit or gain.
work together to achieve success.
follow regulations from an agency.

Answer 1

1) Creation of fuel-efficiency standards for cars — this is a government regulation.

2) How much to charge — in a free-enterprise system producers set prices.

3) Carol can use the money from her business to achieve her goal — the profit incentive lets her earn for buying a home.

4) Fight for the same benefit or gain — competition occurs when businesses vie for the same customers or market share.