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5 Cards in this Set
- Front
- Back
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Free Enterprise System |
is another name for capitalism, an economic system based on private ownership of productive resources. |
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Open Opportunity |
Is the ability of everyone to take part in the market by free choice. |
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Legal Equality |
is a situation in which everyone has the same economic rights under the law. |
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Free Contract |
Is a situation in which people decide legal agreements to enter into. |
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Profit Motive |
Is the force that encourages people and organizations to improve their material well being from economic activities. |
