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The force of one foot of water column equals
Factors of Production
The assets employed to produce goods and services, encompassing land, labor, capital, and entrepreneurship.
Command Economy
A type of economic system where production, investment, prices, and incomes are determined centrally by a government.
Central Authority
An organization or governing body that holds the primary power and control over decision-making and regulation within a certain area or scope.
Laissez-Faire Economy
An economic system where transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.
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