| A | B |
|---|
| compromise | the process of adjusting competing views and interests |
| free enterprise system | system characterized by private ownershipof capital goods, investment by private decision, where success or failure is determined in the market place |
| law of supply and demand | when supply goes up, price goes down. When supply goes down, price goes up |
| mixed economy | where private enterprise and government regulation exist in an economy |
| market | where goods or services are exchanged |
| goods | manufactured or grown items |
| services | things that are done for another |
| Price | the cost of an item or service |
