Chapter 2

3. The ability to chose what to buy and sell is called economic __________
4. The power that consumers have over the market is called consumer __________
5. What causes businesses to lower prices, want more consumers
7. As an economic theory, when the government regulates some of production and distribution
8. As an economic theory, when free trade is allowed with no government regulation
9. An income that doesn’t change with price fluctuation is said to be _____
12. The rights for someone to own something is called _______ ________ rights
14. the lowest one can be paid legally for a job
15. A widespread increase in price
17. The incentive to gain money from selling
18. The ability to have trust in the market and a peace of mind is call economic ________
19. An economy in which production is decided entirely by the leader(s) is called a _______ economy

1. An economy that combines different ideas is called a ______ economy
2. An economy in which production is bound by culture is called a ________ economy
4. A government program for the disabled and elderly
6. When buyers and sellers are able to decide when and how to deal in a market
10. When everyone is treated fairly, it is called economic ______
11. Place where goods are traded
13. A net gain; getting more in return
16. As an economic theory, when the government regulates ALL of production and distribution