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6 Cards in this Set
- Front
- Back
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Laissez faire |
Doctrine that government should not intervene in the marketplace |
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Private property |
Property owned by individuals or companies, not by the government or the people as a whole |
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Free enterprise |
Economic system characterized by private or corporate ownership of capital goods |
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Continuum |
Range with no clear division |
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Transition |
A period of change on which an economy moves away from central planning toward a market-based system |
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Privatized |
Sold to individuals |
