WorksheetsCh 3-1 Vocab
Total questions: 9
Worksheet time: 9mins
An economic system in which privately owned businesses have the freedom to operate for a profit with limited government intervention.
(a)
Act of buyers and sellers freely and willingly engaging in market transactions; a characteristic of capitalism and free enterprise
(a)
Driving force that encourages people and organizations to improve their material well-being; characteristic of capitalism and free enterprise.
(a)
Difference between the revenue from sales and the full opportunity cost of resources involved in producing the sales.
(a)
Fundamental feature of capitalism, which allows individuals to own and control their possessions as they wish; includes both tangible and intangible property.
(a)
Something that motivates
(a)
The struggle among sellers to attract consumers
(a)
Fuel made from wood, peat, municipal solid waste, straw, corn, tires, landfill gases, fish oils, and other waste.
(a)
Severe economic downturn that lasted from late 2007 through mid-2009.
(a)
