the incentive that drives individuals and business owners to improve their material well being

the principle that anyone can compete in marketplace

the principle that everyone has the same legal rights

the principle that people have the right to control their possessions and use them as they please

the principle that people may decide what agreements they want to enter into

the principle that people may decide what agreements they want to enter

the right of a government to take private property for public use

the concerns of a society as a whole

laws requiring companies to provide information about their products or services

This motive encourages innovation and is the basis for why people do what they do economically is to make a profit

AS a consumer i decide what companies make and i have the ability to move between classes

People can determine their own pricing and who and what they trade for. making a push for certain products

the study of economic behavior and decision making in a nation's whole economy

the study of the economic behavior and the decision making in small units such as households and firms

the total value of all final goods and services produced in a country in a given year

a period of macroeconomic expansion, or growth, followed by one of contraction, or decline

a proposed law submitted directly to the public

situation in which older products and processes became out of date

a commitment to the value of work

a shared good or service for which it would be inefficient or impractical to make consumers pay individual and to exclude those who did not pay

the part of the economy that involves the transactions of the government

the part of the economy that involves the transactions of individuals and businesses

the basic facilities that are necessary for a society to function and grow

someone who would not be willing to pay for a certain good or service but who would get the benefits of it anyway if it were provided as a public good

a situation in which a free market operating on its own does not distribute resources efficiently

because macroeconomics is the study of the entire nations economy and governments increase or decrease in spending is a matter of the whole nation

GDP shows all the possible means of income a country has to sell at a given time. this shows their possibility for growth

The person with the patent for a new product has the right to be the only one to make and sell a certain product for 20 years

People expect to be protected by military without assisting the military financially

Public goods are not equally distributed making them inefficient

because the more people in the household the more money necessary to care for the family as a whole

each are only intended to be temporary forms of help for workers/ those trying to find work

yes we would like to think everyone gives bc of goodness in their heart however thats not realistic. most people need some form of compensation to donate.

an economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume

an income level below that which is needed to support families or households

government aid for the poor

direct payments of money by the government to poor, disabled, or retired people

goods and services provided for free or at greatly reduced prices

a financial award given by a government agency to a private individual or group in order to carry out a task

in-kind benefit

It is redistributed as cash transfers to elderly and disabled people.