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Learning to rationalize breaking the law
Market-Oriented Economy
An economy in which decisions regarding investment, production, and distribution are based on supply and demand, and prices of goods and services are determined in a free price system.
Reforms
Changes made to improve a system, law, institution, or practice that are often enacted in response to instances of inefficiency or injustice.
Economic Model
A theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them.
Simplified
Made easier to understand or do; reduced in complexity.
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