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Critical Thinking Questions Case 3-2 You are creating a portfolio Web site to showcase your musical talents. You have some information in a document created in Microsoft Word that you want to include on your site's home page. Now that the text is on your home page, you want to make some changes to it. You call your sister, Julie, and ask for tips on editing Web page text. Julie tells you that ____.
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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