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Decision making is guided only by differential costs.
Capitalism
An economic system characterized by private or corporate ownership of capital goods, investments determined by private decision, and prices, production, and the distribution of goods determined mainly by competition in a free market.
Wealth-Creating Assets
Resources or investments that have the potential to generate income or appreciate in value over time, contributing to an individual's or entity’s financial wealth.
Elite Theory
A theory in political science and sociology, which suggests that society is divided between a small ruling elite and the masses or the majority.
Political Jobs
Positions within the government or associated organizations that are often appointed based on political affiliation rather than merit or civil service exams, typically involving policymaking or political support roles.
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