A voluntary extracurricular research seminar on free enterprise for grades 7-9 is described. To acquaint students with the free enterprise system and its relation to society, lectures and discussions examine components of an equation. The components are: man's material welfare = natural resources + human effort x tools of production (MMW = NR + HE x TP). In conjunction with this, students examine one aspect of the free enterprise system, producing papers researched entirely from locally available library materials, which are then displayed at a culminating fair. Included in this course description are teaching guidelines, class structure recommendations, and bibliography. (LP)