| A | B |
|---|
| free markets | markets allowed to operate without undue intereference from the government |
| competition | rivalry between business exist to keep quality up and prices fair |
| private ownership | individuals/businesses own personal property and resources without undue intereference from the govenrment |
| profit | money left over after expenses are paid |
| consumer sovereignty | individuals deteremine through purchases what will be produced |
| proprietorship | single business owner taking all risk and making all profit |
| partnership | two or more business owners, sharing risk and profits |
| corporation | many owners, limited liabilty and small share of profits |
| deposit | money entrusted to a bank for safe keeping |
| interest | money earned on deposit in a bank |
| global economy | worldwide markets |
| entrepreneur | boss, risk taker, profit seeker |
