Analyzing a Market Economy

Today's terms are

• private property
• free enterprise
• circular flow
• profit

Private Property is that which is owned by individuals and companies, not the government, used to generate income.

Examples include, but are not limited to

• land and its natural resources
• buildings
• intellectual property such as patents, logos, trademarks, and copyrights

Private Property

Free Enterprise
describes the style of economics characterized by private property rights, voluntary contracts and competitive bidding for goods and services in the marketplace.

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Circular Market Flow is
a model depicting the connection between businesses, households, products and resources in an economy

Not another PowerPoint!

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Profit is
the money made after accounting for all the expenses

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