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6 Cards in this Set
- Front
- Back
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Laissez-faire |
The doctrine that states that the government generally should not intervene in the marketplace |
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Private property |
Property owned by individuals or companies not by the government or people as a whole |
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Free enterprise |
An economic system characterized by private corporate ownership of capital goods investments are determined by private decisions rounded by state control and determine and free market |
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Continuum |
A range with no clear division |
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Transition |
Period of change in which an economic moves away from centrally planned economy towards a market based economy |
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Privatize |
To sells state-run firms to individuals |
