Examlex
A majority of citizens in a democracy can agree to permit certain authorities to make and enforce rules describing what behavior is permitted and encouraged in their community.These rules are what we refer to as the ________.
Destroy Incentives
To eliminate or significantly reduce the motivations or reasons for individuals or entities to take a particular action or endeavor.
Society's Resources
The total means available to a society, including natural resources, human capital, and manufactured goods, used for production and consumption.
Free-Market System
An economic system where prices for goods and services are determined by the open market and consumers, in which the laws and forces of supply and demand are free from any intervention by a government, price-setting monopoly, or other authority.
Wage
The amount of money paid to an employee by an employer in exchange for work performed, usually expressed on a per-hour, per-day, or per-project basis.
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