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Write the fraction in lowest terms.
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Society's Output
This term describes the total amount of goods and services produced by a society or an economy over a specific time frame.
Self-Interest
The motivation of individuals to pursue their own welfare and interests, often considered a fundamental economic driving force.
Market System
An economic system where decisions regarding investment, production, and distribution are based on supply and demand, determining prices of goods and services.
Private Property
Lawful entitlements to own, utilize, and transfer property.
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