Which of the following statements best describes the free enterprise system?

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A. The government makes all goods and services. B. There are governmental controls and fixed prices. C. There is no free choice of goods and no profit. D. There is profit and competition. 5. A researcher is looking for information in technical reports. What kind of research is he doing? A. Retrieving B. Describing 6. Which one of the following activities is a planning practice? A. Correcting B. Monitoring PRODUCT DEVELOPMENT PRACTICES 1. Designing 2. Engineering 3. Researching 4. Formulating Fig. 1-2 7. Listed in Fig. 1-2 are four practices of product development. What is the correct order in which they should be done? A. 1, 2, 3, 4 B. 4, 3, 1, 2 C. 3, 1, 2, 4 D. 3, 4, 2, 1 8. Which one of the following institutions of society provides man with goods and services? A. Economic system B. Religion C. Family D. Education 9. Which are the two most common kinds of consumer surveys? A. Debates and the Gallup polls B. Trial and error and open-ended discussions C. Nielsen ratings and off-hand ... more
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