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EconomicsName: Chapter 3 Section 1Vocabulary: Define the following terms from your book:Profit Motive:Open Opportunity:Legal Equality:Private Property Rights:Free Contract:Voluntary Exchange:Interest Group:Patriotism:Eminent Domain:According to Figure 3.1, identify one agency meant to protect each of the following:Public SafetyFair CompetitionEqualityHow do you think the FCC promotes public interest?In the table below, list the five main characteristics of the free enterprise system and the benefit of each of these characteristics.Free Enterprise SystemCharacteristicsBenefitsFor each of the questions below, restate the question and answer the question in COMPLETE sentences. Answers that are not complete sentences will receive no credit.How is the profit motive the driving force of the American economy?How is the principle of open opportunity different from guaranteeing success to everyone in the marketplace?How does the principle of voluntary exchange promote competition?What is an interest group?What kinds of information are required for public disclosure laws? ................
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