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      <title>Econ Vocab Unit 1 by Anna Grotelueschen</title>
      <link>https://padlet.com/groteann2023/j48yowekgp0sjyls</link>
      <description>for review</description>
      <language>en-us</language>
      <pubDate>2021-10-07 12:36:32 UTC</pubDate>
      <lastBuildDate>2021-10-11 12:16:17 UTC</lastBuildDate>
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      <item>
         <title>Trade-off</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807383473</link>
         <description><![CDATA[<div>&nbsp;any situation where making one choice means losing something else, usually forgoing a benefit or opportunity.&nbsp;</div>]]></description>
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         <pubDate>2021-10-11 11:52:55 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807383473</guid>
      </item>
      <item>
         <title>Marginal Cost</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807388318</link>
         <description><![CDATA[<div>the change in total production cost that comes from making or producing one additional unit.</div>]]></description>
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         <pubDate>2021-10-11 11:55:26 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807388318</guid>
      </item>
      <item>
         <title>Opportunity cost</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807390886</link>
         <description><![CDATA[<div>the loss of potential gain from other alternatives when one alternative is chosen.</div>]]></description>
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         <pubDate>2021-10-11 11:56:48 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807390886</guid>
      </item>
      <item>
         <title>Underutilization</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807396190</link>
         <description><![CDATA[<div>a situation of not utilizing machines or resources to the fullest capacity or the production capacity.</div>]]></description>
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         <pubDate>2021-10-11 11:59:43 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807396190</guid>
      </item>
      <item>
         <title>Efficiency</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807397919</link>
         <description><![CDATA[<div>an economic state in which every resource is optimally allocated to serve each individual or entity in the best way while minimizing waste and inefficiency.</div>]]></description>
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         <pubDate>2021-10-11 12:00:36 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807397919</guid>
      </item>
      <item>
         <title>Market</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807399531</link>
         <description><![CDATA[<div>an arrangement that allows buyers and sellers to exchange goods and services.</div>]]></description>
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         <pubDate>2021-10-11 12:01:25 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807399531</guid>
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      <item>
         <title>Household</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807406406</link>
         <description><![CDATA[<div>a person or group of people living in a single residence.</div><div><br></div>]]></description>
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         <pubDate>2021-10-11 12:04:58 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807406406</guid>
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      <item>
         <title>Firm</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807406861</link>
         <description><![CDATA[<div>an organization that uses resources to produce goods and services, which it then sells.</div><div><br></div>]]></description>
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         <pubDate>2021-10-11 12:05:11 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807406861</guid>
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      <item>
         <title>Specialization</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807408274</link>
         <description><![CDATA[<div>the concentration of the productive efforts of individuals on a limited number of activities.</div><div><br></div>]]></description>
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         <pubDate>2021-10-11 12:05:57 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807408274</guid>
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      <item>
         <title>Eminent Domain</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807411680</link>
         <description><![CDATA[<div>the right of a government or its agent to expropriate private property for public use, with payment of compensation.</div><div><br></div>]]></description>
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         <pubDate>2021-10-11 12:07:35 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807411680</guid>
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      <item>
         <title>Private Property Rights</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807412892</link>
         <description><![CDATA[<div>need the ability to exclude others from the uses and benefits of their property.</div>]]></description>
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         <pubDate>2021-10-11 12:08:11 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807412892</guid>
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      <item>
         <title>Free Contract</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807414460</link>
         <description><![CDATA[<div>&nbsp;the concept that people may decide what agreements they want to enter into.</div>]]></description>
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         <pubDate>2021-10-11 12:08:56 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807414460</guid>
      </item>
      <item>
         <title>Voluntary Exchange</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807415635</link>
         <description><![CDATA[<div>the act of buyers and sellers freely and willingly engaging in market transactions.</div>]]></description>
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         <pubDate>2021-10-11 12:09:28 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807415635</guid>
      </item>
      <item>
         <title>Communism</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807417330</link>
         <description><![CDATA[<div>advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs.</div>]]></description>
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         <pubDate>2021-10-11 12:10:15 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807417330</guid>
      </item>
      <item>
         <title>Authoritarian</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807418088</link>
         <description><![CDATA[<div>favoring or enforcing strict obedience to authority, especially that of the government, at the expense of personal freedom.</div>]]></description>
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         <pubDate>2021-10-11 12:10:39 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807418088</guid>
      </item>
      <item>
         <title>Privatization</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807419859</link>
         <description><![CDATA[<div>the transfer of a business, industry, or service from public to private ownership and control.</div>]]></description>
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         <pubDate>2021-10-11 12:11:32 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807419859</guid>
      </item>
      <item>
         <title>Free Market</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807420821</link>
         <description><![CDATA[<div>an economic system in which prices are determined by unrestricted competition between privately owned businesses.</div>]]></description>
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         <pubDate>2021-10-11 12:12:02 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807420821</guid>
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      <item>
         <title>Mixed Economy</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807423889</link>
         <description><![CDATA[<div>an economic system combining private and public enterprise.</div><div><br></div>]]></description>
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         <pubDate>2021-10-11 12:13:32 UTC</pubDate>
         <guid>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807423889</guid>
      </item>
      <item>
         <title>Private Property</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807425018</link>
         <description><![CDATA[<div>a legal designation for the ownership of property by non-governmental legal entities.&nbsp;</div>]]></description>
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         <pubDate>2021-10-11 12:14:08 UTC</pubDate>
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      </item>
      <item>
         <title>Intellectual Property</title>
         <author>groteann2023</author>
         <link>https://padlet.com/groteann2023/j48yowekgp0sjyls/wish/1807426613</link>
         <description><![CDATA[<div>creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.<br><br></div>]]></description>
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         <pubDate>2021-10-11 12:14:55 UTC</pubDate>
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