Term
| What Is Free Enterprise System? |
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Definition
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Term
| What Is Open Opportunity? |
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Definition
| Everyone's Ability To Take Part In Market By Free Choice |
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Definition
| Everyone Has The Same Economic Rights By Law |
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Definition
| People Decide And Choose Legal Agreements To Enter Into |
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Definition
| Motivation For People And Organizations To Improve |
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Term
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Definition
| Money Left Over After Costs Of Production Are Subtracted From Revenue |
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Term
| What Is Modified Free Enterprise Economy? |
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Definition
| Free Enterprise With Some Government Involvement |
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Term
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Definition
| When People Who Are Not Part Of A Market Place Interaction Benefit From It Or Pay A Cost |
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Term
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Definition
| Products Provided By Governments And Consumed By Public As A Group |
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Definition
| Person Who Avoids Paying For A Good But Still Benefits From Them |
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Definition
| All Goods And Services That Are Necessary For Society To Function |
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Definition
| Side Effect Of A Product That Affects Someone Other Than The Producer Or The Buyer |
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Term
| What Is Negative Externality? |
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Definition
| Imposes Costs On People Not Originally Involved |
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Term
| What Is Positive Externality? |
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Definition
| Creates Benefits For People Not Originally Involved |
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Term
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Definition
| Government Payment That Helps Cover The Cost Of An Economic Activity To Benefit The Public As A Whole |
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Term
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Definition
| Government Programs Designed To Protect People From Economic Hardships |
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Term
| What Are Transfer Payments? |
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Definition
| Transfers Payment Form One Entity To Another And The Receiver Does Not Provide Anything In Return |
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Term
| What Is Public Transfer Payment? |
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Definition
| Government Transfers Income From Tax Payers To Recipients Who Provide Nothing In Return |
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