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Private Property Rights
An owner’s right to use, rent, or sell resources or property.
Natural Monopolies
Industries where a single firm can provide a good or service at a lower cost than any potential competitor, often due to high infrastructure or barrier to entry costs.
Price Stability
The economic condition in which prices in the economy do not change significantly in either direction and remain relatively stable.
Government Transfer Program
Programs through which governments redistribute income, typically from taxpayers to individuals in need, such as welfare, social security, and unemployment benefits.
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