Remake of Econ Vocabulary Topics 1 & 2 by https://padlet.com/chappmac2022/bik00q564fzt2jzb Made with care en-us 2021-10-07 17:27:38 UTC 2021-10-07 18:00:33 UTC hello@padlet.com market chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800555574 any arrangement that allows buyers and sellers to exchange things]]> 2021-10-07 17:32:07 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800555574 specialization chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800558192 the concentration of the productive efforts of individuals and businesses on a limited number of activities

]]> 2021-10-07 17:33:13 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800558192 incentive chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800559539 the hope of reward or fear of penalty that encourages a person to behave in a certain way

]]> 2021-10-07 17:33:47 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800559539 competition chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800561767 the struggle among producers for the dollars of consumers]]> 2021-10-07 17:34:43 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800561767 household chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800565193 a person or group of people living in a single residence]]> 2021-10-07 17:36:03 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800565193 profit motive chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800569305 the incentive that drives individuals and business owners to improve their material well-being]]> 2021-10-07 17:37:47 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800569305 legal equality chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800581517 the principle that everyone has the same legal rights]]> 2021-10-07 17:42:44 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800581517 private property rights chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800584148  the principle that people have the right to control their possessions and use them as they wish

]]> 2021-10-07 17:43:52 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800584148 patriotism chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800585332 love of one’s country]]> 2021-10-07 17:44:23 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800585332 public interest chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800586892 the concerns of society as a whole]]> 2021-10-07 17:45:04 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800586892 public disclosure laws chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800591600 laws requiring companies to provide information to consumers about their products and services]]> 2021-10-07 17:47:03 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800591600 command economy/centrally planned economy chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800597364 an economic system in which the government makes all decisions on the three key economic questions

]]> 2021-10-07 17:49:30 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800597364 socialism chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800599245 a range of economic and political systems based on the belief that wealth should be distributed evenly throughout a society]]> 2021-10-07 17:50:16 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800599245 communism chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800606718 a political system in which the government owns and controls all resources and means of production and makes all economic decisions]]> 2021-10-07 17:53:28 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800606718 authoritarian chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800607906 describes a form of government that limits individual freedoms and requires strict obedience from its citizens

]]> 2021-10-07 17:54:01 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800607906 laissez-faire chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800611384 the doctrine that government generally should not intervene in the marketplace

]]> 2021-10-07 17:55:33 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800611384 mixed economy chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800612782 economic system that has some market-based elements and some level of government involvement]]> 2021-10-07 17:56:10 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800612782 economic transition chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800615360 a period of change in which a nation moves from one economic system to another]]> 2021-10-07 17:57:17 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800615360 privatization chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800616708 the process of selling businesses or services operated by the government to individual investors, and then allowing them to compete in the marketplace

]]> 2021-10-07 17:57:48 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800616708 intellectual property chappmac2022 https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800618368 creations, such as books, songs, or symbols, that consist of ideas rather than physical objects

]]> 2021-10-07 17:58:32 UTC https://padlet.com/chappmac2022/bik00q564fzt2jzb/wish/1800618368