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A market that has a broad range of competitors who are selling the same products.

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A type of imperfect competition such that many producers sell products that are differentiated from one another

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A state of limited competition, in which a market is shared by a small number of producers or sellers.

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The exclusive possession or control of the supply of or trade in a commodity or service.

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The loss of potential gain from other alternatives when one alternative is chosen.

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The desire of purchasers, consumers, clients, employers, for a particular commodity, service, or other item.

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Provide someone with something needed or wanted.

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The desire for financial gain as an incentive in economic activity.

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The activity or condition of competing.

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Goods and services flow through the economy in one direction while money flows in the opposite direction.

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Economic system in which private business operates in competition and largely free of state control.

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A economic system combining private and public enterprise.

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System in which production and prices are determined by unrestricted competition between privately owned businesses.

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An economy in which production, investment, prices, and incomes are determined centrally by a government.

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Economic system in which traditions, customs, and beliefs help shape the goods and services the economy produces.

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Workers, especially manual workers, considered collectively.

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Ground or soil used as a basis for agriculture.

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A person who organizes and operates a business.

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Wealth in the form of money or other assets owned by a person.

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The state of being scarce or in short supply.