Question

understanding free enterprise
introduction: sort the tiles to show the positive aspects and limits of free enterprise.
better quality
need for consumer knowledge
freedom of choice
lower prices
lack of fair competition
potential for higher prices
possible benefits
possible limitations

Explanation:

To determine the positive aspects (possible benefits) and limits (possible limitations) of free enterprise:

• Possible Benefits: These are positive outcomes. "Better quality" occurs as firms compete to attract consumers. "Freedom of choice" is a core tenet of free enterprise, allowing consumers to pick from various goods/services. "Lower prices" result from competition as firms try to undercut each other.
• Possible Limitations: These are challenges or drawbacks. "Need for consumer knowledge" is a limit because consumers must be informed to make good choices. "Lack of fair competition" can happen if monopolies or unfair practices emerge. "Potential for higher prices" exists if competition is limited (e.g., in monopolistic situations).

Answer:

Possible Benefits:

• better quality
• freedom of choice
• lower prices

Possible Limitations:

• need for consumer knowledge
• lack of fair competition
• potential for higher prices