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Minimal Government Intervention
Minimal government intervention refers to an economic policy or philosophy where the government has a very limited role in the economy, allowing the market to operate with minimal regulatory influence.
Market System
An economic system where decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.
Self-interest
Acting in a way that is most beneficial for oneself.
Private Property
The right of private persons and firms to obtain, own, control, employ, dispose of, and bequeath land, capital, and other property.
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