LESSON 7 Flashcards
1
Q
Market economy
A
Individuals are free to compete to earn a living
2
Q
Free market
A
Buyers and sellers are free to exchange goods and services
3
Q
Free enterprise
A
business owners are allowed to run their business in any way
4
Q
Capitalism
A
an economic system based on private ownership
5
Q
Corporation
A
a business organization charted by state government.
6
Q
Stock
A
a share of ownership in corporation
7
Q
Dividends
A
profits paid to corporate stockholders
8
Q
Non-Profit organization
A
Provides goods and services without a profit being made
9
Q
natural resources
A
natural materials used by humans
10
Q
capital
A
money invested in business
11
Q
labor
A
