A D 2. ruler of the market in determining goods and services produced 3. economic system with combination of command, traditional, and market economies 4. role of national government in preserving marketplace competition 5. something that stimulates activity among forces or people B. entrepreneur mixed economy D. catalyst E. consumer DIRECTIONS: Multiple Choice Indicate the answer choice that best completes the statement or answers the question. 6. The phrase "the customer is always right" is most often associated with what term? A. entrepreneurship consumer sovereignty C. mixed economy D. regulatory government 7. How does the government operate in a free enterprise economy? A. It takes a "hands-off" approach to business. B. It tells businesses what to produce and what to sell. C. It interferes with business only when it is profitable. D. It establishes laws and rules to maintain competition. 8. In its role as protector of the American free enterprise system, one of the issues the government must deal with is. A. environmental hazards B. weeding out corruption C. helping businesses get started D. overseeing communications 9. Who ultimately determines the success of a product? A. the government C. the consumer B. the business producing the product D. the store selling the product 10. Consumers can influence the production and sale of goods by A. "voting" with their dollars B. saving their money C. reducing their spending habits D. paying off their debt Copyright McGraw-Hill Education Permission is granted to reproduce for classroom use