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the principle that people have the right to control their possessions and use them as they wish

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love of one’s country

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the concerns of society as a whole

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laws requiring companies to provide information to consumers about their products and services

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any arrangement that allows buyers and sellers to exchange things

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the incentive that drives individuals and business owners to improve their material well-being

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the concentration of the productive efforts of individuals and businesses on a limited number of activities

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the hope of reward or fear of penalty that encourages a person to behave in a certain way

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a person or group of people living in a single residence

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the struggle among producers for the dollars of consumers

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the principle that everyone has the same legal rights

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a range of economic and political systems based on the belief that wealth should be distributed evenly throughout a society

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an economic system in which the government makes all decisions on the three key economic questions

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a political system in which the government owns and controls all resources and means of production and makes all economic decisions

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describes a form of government that limits individual freedoms and requires strict obedience from its citizens

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economic system that has some market-based elements and some level of government involvement

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the doctrine that government generally should not intervene in the marketplace

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a period of change in which a nation moves from one economic system to another

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creations, such as books, songs, or symbols, that consist of ideas rather than physical objects

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the process of selling businesses or services operated by the government to individual investors, and then allowing them to compete in the marketplace