Econ 3.1 Flashcards

Front

A free enterprise system is also known as a

Back

Capitalist system

Front

The ability for everyone to enter and compete in the marketplace is called

Back

Open opportunity

Front

Having the same economic rights under the law is called

Back

Legal equality

Front

The ability to decide for yourself which legal agreements you will enter into is called

Back

Free contract

Front

Free to Choose was written by

Back

Milton Friedman

Front

Free enterprise system promotes

Back

Competition and choice

Front

Legal equality ensures

Back

Same economic rights for everyone

Front

Open opportunity allows

Back

Everyone to compete in the marketplace

Front

Free contract means

Back

Choosing your own legal agreements

Front

Profit motive is a key concept in

Back

Free enterprise system