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Some People Are Better Than Others at Detecting Slight Variations

question 83

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Some people are better than others at detecting slight variations in the tastes of various blends of coffee.This best illustrates the importance of


Definitions:

Market Economies

Economic systems where supply, demand, and prices are driven by decisions made by consumers and businesses rather than central planning.

Coerce

To compel someone to act in a certain way by using force or threats.

Property Rights

Legal rights to possess, use, and dispose of assets including land, buildings, intellectual property, and other possessions.

Capital Goods

Human-made resources (electrical grids, the GPS system, rail networks) used to produce goods and services; goods that do not directly satisfy human wants; also called capital. One of the four economic resources.

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