Examlex
Basing facts on informal observations is an example of sociological knowledge.
Capitalism
An economic system where private individuals own capital goods, investments, and means of production, with the goal of making profits.
Market Economy
An economic system where supply and demand from consumers drive the production of goods and services, with minimal government intervention.
Supply And Demand
Basic economic concept that describes the balance between the availability of a product or service and the desire (demand) for it.
Free Enterprise System
An economic system where private businesses operate in competition, largely free of state control, with limited government intervention.
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