In a ___________________ economy, the government is minimally involved in the functioning of the economy but does act to protect consumers and impose some regulations on the market.

The concept of ______________________ refers to the ability of consumers to determine the types of goods and services that will be offered in an economy, based on where they spend their money.

Within a _____________ economy, we often see both producers and consumers responding to the incentive of price changes.

Private ownership of resources exists in _________________ and _________________ economies. (Choose 2.)

The ability of an individual to own resources and use them in any legal way they see fit is known as _________________________.

The United States is a mixed economy, with nearly all of the characteristics of a ______ economy.

Voluntary exchange means that you _________________________________.

Producers in the market economy are competing for customers, so they often have _________________________ than other types of economies.

In a market economy, the price of goods and services is determined by ________________.

__________________ is a characteristic of a market economy where individuals have the freedom to make their own economic decisions.

Laissez-faire is French for "allow to do," with the idea being "let people do as they choose." What type of market supports the doctrine of laissez-faire to a certain degree?