Examlex
Explain what is meant when local governments are called "creatures of the states."
Market Economies
Market economies are economic systems in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses with minimal government intervention.
Adjustment
The process of modifying something to achieve a desired outcome, often used in the context of economic policies, mechanisms, or personal changes.
Equilibrium Price
The price at which the quantity of a product offered is equal to the quantity of the product in demand.
Government
The organization, or system of governance, that exercises authority and performs the functions of governing a political state or community.
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