Examlex
The Knights of Labor accepted both the eight-hour day and the wage system.
Laissez-Faire
A belief system in economics that supports capitalism with minimal to no government interference.
Market System
An economic system 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.
Self-Interest
acting in a way that is most beneficial to oneself, a fundamental concept in economics that drives individual decision-making.
Consumer Sovereignty
The theory that consumer preferences and choices dictate the production of goods and services in an economy.
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