Examlex
A strength of the step-by-step social information processing approach is the following:
Free-Market System
An economic system based on supply and demand with little or no government control.
Quantity Adjustments
Changes made in the quantity of goods produced or procured in response to shifts in demand or supply.
Laissez-Faire Economy
An economic system where private parties are free from government intervention, such as regulations, privileges, tariffs, and subsidies.
Central Government Authority
The part of the government that has a national mandate and is responsible for the implementation and administration of policy and law in a country.
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