Figure 30-3. On the graph, MS represents the money supply and MD represents money demand. The usual quantities are measured along the axes.

Define free markets. Does a perfectly competitive market qualify as a free market?

What will be an ideal response?

Which of the following makes someone an entrepreneur?

a) earning a lot of money as a computer programmer b) becoming a highly paid dancer c) running a service that hires people to install sprinkler systems in lawns d) inventing and selling the rights to manufacture a computer game