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