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☆☆☆☆☆Generally speaking a mixed economy is one where the government has controls over private industry through various types of regulations. One example is the setting of the minimum wage. For the most part a mixed economy does not require the government to actually own any of the means of production. Also, a mixed economy creates "authorities" to operate tunnels, bridges and airports.
A trade-off is an alternative that we sacrifice when we make a decision.
Yes, Price effect = substitution effect + income effect
They are called factor payments.
immediate demand for a good will go up if it's price is expected to rise.
this is how population changes affect demand for certain goods.
agreement on the price and quantity traded
equity
Safety Net!
economic effiency
Customs and traditions.
A person wants an endless supply of everything but cannot have it.
hard work and patience
A layoff of 500 workers at the city's airport could cause the demand curve for cars in your city to the left.
Federeal Deposit Insurance Corporation (FDIC)
The three economic choices every society must make is what the society will produce, how it will be produced, and who will get what is produced.
The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.
