Examlex
Transformational change involves
Economic Decisions
Choices made by individuals, firms, or governments regarding allocation of resources to satisfy needs and desires.
Laissez-Faire Economy
An economic system in which transactions between private parties are free from government intervention such as regulation, privileges, tariffs, and subsidies.
Self-Interest
An individual’s personal gain; the drivers of economic behavior assuming that individuals act in pursuit of their own best interests.
Free-Market System
An economic system based on supply and demand with little or no government control.
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