Inverse relationship (graphs)- when one increases and the other decreases. Laissez-faire capitalism- pure capitalism, the government"s role is limited to protecting private property, and establishing a legal environment. The command system- most property resources are owned by the government, economic decisions are made by a central government body. Property rights encourage ensure mutually agreeable economic transaction. Entrepreneurs try to maximize profits and minimize loss. Workers try to maximize satisfaction by finding jobs with the best combination of wages, hours, benefits, and working conditions. Consumers look for products they want at the lowest price: competition- independently acting sellers and buyers operating in a particular product or factor market. No single seller or buyer is able to dictate the price of the product or factor. The central government, along with the central bank, needs to take action if a market economy is experiencing recession or inflation.