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CIVIC > MODULE SEVEN > Flashcards

MODULE SEVEN Flashcards

1
Q

Market Economy

A

An economic system in which
individuals are free to compete, to earn a living, to earn a profit, and to own property.

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2
Q

Free Market

A

An economic system in which buyers and sellers are free to exchange goods and services as they choose

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3
Q

Free Enterprise

A

Principle that business owners in a
free market are allowed to run their businesses in any way they see fit

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4
Q

Corporation

A

A business organization chartered by
a state government

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5
Q

Stock

A

A share of ownership in a corporation.

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6
Q

Dividends

A

Profits paid to corporate stockholders.

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7
Q

Non-profit organizations

A

Business organizations
that provide goods and services without seeking to earn a profit

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8
Q

Natural Recourses

A

Any natural materials that are
used by humans

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9
Q

Capital

A

Money invested in business

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10
Q

Labor

A

Human effort used to make goods and services

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CIVIC (8 decks)

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