Capitalism
Terms
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- Cartel
- an association of businesses supplying the same product that regulates its members' prices and production
- Mercantilism
- economic policy of European nations in the 1600s equating wealth and power
- Corporation
- business organization that is owned by stockholders who buy shares, and is run by professional managers
- Dividend
- a share of profits received by a stockholder or policyholder in a mutual insurance society
- Entrepeneurs
- people who undertake risk to establish a business
- Free-Enterprise
- freedom of private business to operate competetively for profit with minimal government regulation
- Joint-Stock Enterprise
- trading venture that sold shares to divide costs and profits
- Laissez-Faire
- economic principle that government should not regulate businesses
- Monopoly
- control of all or almost all trade or production of a given good
- Physiocrats
- valued land as primary sources of national wealth; it brought fewer taxes, regulation; would enable farmers to grow more produce
- Standard of Living
- a general measure of people's overall wealth & quality of life
- Stock
- the capital or fund that a corporation raises by selling shares entitling the stock holder to dividends
- Stockholders
- one who owns a share(s) of stock in a company
- Tariff
- tax on goods coming into a country
- Trust
- a legal title to property held by one party for the benefit of another