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Chapter 2 Economics

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Across
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an economic system combining private and public enterprise.
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a rise in the general level of prices
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The act of buyers and sellers freely engage in market transactions
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people carry on their economic affairs freely, but are subject to some government intervention and regulation.
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North Korea is this type of economy
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Ex. central African Mbuti
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Doesn't increase if prices go up
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South Korea has this type of economy
Down
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Where private citizens own the factor of production
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Describes the role of the consumer as sovereign
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Being able to own your own stuff
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The struggle among sellers to attract consumers while lowering cost
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Encourages the producer to improve on their prodoct
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A federal program of disability and retirement benefits that cover most working people
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Realities to the United goverment
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Is the extent to which 11organizations are better off at the end of the peroid