The freedom to prosper within a country without intervention from a government or economic authority. Individuals are free to secure and protect his/her human resources, labor and private property.
The free exchange of goods and services between buyers and seller in some sort of marketplace
Private Property Rights
The exclusive authority to determine how a resource is used, whether that resource is owned by government or by individuals.
Chance of generating a surplus of revenue over all costs the reason most people start and stay in a business.
Rivalry in which every seller tries to get what other sellers are seeking at the same time: sales, profit, and market share by offering the best practicable combination of price, quality, and service.