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The struggle that goes on among buyers to attract consumers
People have the freedom to choose their occupation
Strong sense of justice, impartiality, and fairness
Role of consumer as ruler of the market in determining the types of goods and services produced
Sustained rise in the general level of prices of goods and services
Lowest legal wage that can be paid to most workers
The act of buyers and sellers engaging in market transactions freely and willingly
Money paid in by current workers is used to pay the benefits for current retirees
Measure of the market value of all the final goods and services produced in a specific time period
When there is little to no change in the economy over a period of time
Any type of investment under which the borrower or issuer is obligated to make payments of a fixed amount on a fixed schedule
Economic system where private enterprises are regulated by government
Financial motivations for people to take certain actions