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A _____ Economy Interprets Consumer Demand as a Demand for Services-For

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Short Answer

A _____ economy interprets consumer demand as a demand for services-for clothes cleaning, floor covering, illumination, entertainment, cool air, transportation, word processing, and so forth.


Definitions:

Law

A system of rules established by a society or government to regulate behavior, with penalties for violations.

Rationalism

A philosophical viewpoint arguing that reason is the chief source of knowledge rather than sensory experience.

Natural Law

A philosophical theory that posits the existence of a law whose content is set by nature and that therefore has validity everywhere.

Ethical System

A coherent set of moral principles, values, and standards that guide individuals or groups in making decisions and conducting themselves.

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