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definition: allows consumers and firms to buy and sell what they want. Economic Freedom corresponds with two sub-characteristics:
free contract allows people to decide what contracts they want to enter into. Voluntary Exchange exchange of money for goods & services connected key terms: american free enterprise | private property | opportunity | incentives | competition | profit movtive | legal equality | economic freedom |  |
▪ having a credit card ▪ paying for an item with money or trade |