Chapter 3 Flashcards
(5 cards)
1
Q
Profit
A
Financial gain a seller makes from a business transaction
2
Q
Public goods
A
Goods and services provided by the government and consumed by the public as a group
3
Q
Free rider
A
Person who does not pay for a good or service but who benefits from it when it is provided.
4
Q
Public safety net
A
In notes
5
Q
Free contract
A
People decide for themselves which legal agreements to enter into
