37. free-enterprise system: capitalist/market economy
38. economic freedom: allowed to choose what you
buy and how to earn money
39. income: money you make
40. voluntary exchange: buyers and sellers freely and
willingly engaging in market activity
41. private property rights: we can own and control
land
42. profit: actual money made
43. profit motive: wanting to get more money
44. entrepreneur: a person who starts a business
45. risk: the chance of losing something
46. benefits: things that help you
47. consumer sovereignty: buyers’ power (kings)
48. intervene: take over
49. mixed economy: people can spend and work
freely with some government control (U.S.A.)
50. consumers: the buyers
