- free-enterprise system مؤسسة حرة: capitalist/market economy
- economic freedom: allowed to choose what you buy and how to earn money
- income سياسة: money you make
- voluntary exchange: buyers and sellers freely and willingly engaging in market activity
- private property rights: we can own and control land
- profit ربح: actual money made
- profit motive الدافع الربح: wanting to get more money
- entrepreneur مقاول: a person who starts a business
- risk خطر: the chance of losing something
- benefits فوائد: things that help you
- consumer sovereignty قوة: buyers’ power (kings)
- intervene تدخل: take over
- mixed economy اقتصاد مختلط: people can spend and work freely with some government control (U.S.A.)
- consumers المشترين: the buyers
Econ 2.3 Vocab
