Examlex
Mary creates a t-shirt design that expresses her support for a presidential candidate and distributes t-shirts to all her friends. The t-shirts are an example of
Corporation
A legal entity (“person”) chartered by a state or the federal government that is distinct and separate from the individuals who own it.
Personal Responsibility
The idea that an individual is accountable for their actions and wellbeing, including making decisions that affect their life and those around them.
Circular Flow Model
A diagram that demonstrates the movement of money, resources, and goods and services in an economy between households, firms, and the government.
Resource Markets
Marketplaces where resources (like labor, capital, and raw materials) used to produce goods and services are bought and sold.
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