Question: Match each term with the correct definition. a . An institution that brings buyers and sellers together: b . The right of private persons and
Match each term with the correct definition.
a An institution that brings buyers and sellers together:
b The right of private persons and firms to obtain, control, employ, dispose of and bequeath land, capital, and other property:
c The presence in a market of independent buyers and sellers who compete with one another and who are free to enter and exit the market as they each see fit:
d The freedom of firms to obtain economic resources, decide what products to produce with those resources, and sell those products in markets of their choice:
e What each individual or firm believes is best for itself and seeks to obtain:
f Economic transactions willingly undertaken by both the buyer and the seller because each feels that the transaction will make him or her better off:
g The freedom of resource owners to dispose of their resources as they think best; of workers to enter any line of work for which they are qualified; and of consumers to spend their incomes in whatever way they feel is most appropriate:
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