Based on What You Have Read in This Chapter, Describe

question 68

Essay

Based on what you have read in this chapter, describe an economic system that you think would come closest to being "just." This economic system might be some combination of the types of economic systems described in theCHAPTER.Explain what you mean by "just" and how the system operates to generate "justice."

---

Definitions:

Freight

The charge paid for the transport of goods by sea, air, or land, typically from the supplier to the receiver, influencing the cost of goods sold and inventory valuations.

Discount Period

The time frame in which a payment can be made at a discounted price, usually before a specified due date.

Inventory

The goods and materials that a business holds for the purpose of resale or use in production.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, detailing the repayment period, interest rate, and other terms of payback.