E13 - Lesson 2 – The Free Market…Cornerstone of American Prosperity
Q.1
Which of the following in not one of the four key points that students are asked to take away from this Lesson 2?
The collective choices of people around the world as to what they need and want to buy is what creates the free market.
It’s the private sector, especially small business, where most new jobs are created.
Throughout history, the most successful economies have been those planned and controlled by government.
In recent years there has been a sharp drop in the number of entrepreneurial startups with employees in our country.
Q.2
Which one of the following statements, as noted in Lesson 2, is true?
Large corporations make most of the decisions as to which products and services are sold in our economy.
The federal government is the main decision maker as to which businesses and jobs go away, and which grow and prosper.
Most new jobs in the United States are created by large companies.
Consumers are the main decision makers as to which businesses and jobs go away, and which grow and prosper.
Q.3
As noted in Lesson 2, which of the following were characteristic of the economy of the Soviet Union prior to the fall of communism in 1991?
Consumers waited in long lines at stores waiting for shelves to be filled.
People waited years for substandard housing to be built for them
There were many hopelessly obsolete factories in the Soviet Union.
All of the above.
Q.4
As noted in Lesson 2, which of the following statements about the creation of new jobs is true?
Firms with more than 250 employees are where most new jobs are created.
72% of all new jobs are created in large firms and businesses.
Firms with less than 250 employees are where more than 70% of all new jobs are created.
The federal government is responsible for most job creation in the United States.
Q.5
As noted in Lesson 2, which of the following statements about the number of small business startups with employees is true?
During the 1990’s and until 2008, the number of small business startups with employees consistently averaged between about 1,700 and 1,900 per million US population per year.
During the years 2009, 2010, 2011, 2012, and 2013, the number of the small business startups with employees decreased dramatically.
If the downward trend in the number of small business startups with employees is not reversed soon, the ability of our country to maintain and grow its prosperity will be at great risk.
All of the above.