Examlex
The NIBRS is a more comprehensive, detailed reporting system than the UCR.
Market Economy
A type of economic system where decisions regarding investment, production, and distribution are based on supply and demand, with minimal government intervention.
Efficient
Optimally using resources in a manner that maximizes the production of goods and services without wasting them.
Resources
The inputs used in the production of goods and services, including labor, capital, land, and entrepreneurship.
Individual Choices
Decisions made by individuals based on their preferences and circumstances, affecting their personal welfare and the allocation of resources.
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