Economics

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.

In Furman vs. Georgia the court ruled that all existing death penalty laws violated the constitution.

The concept basically explains why the government prefer guns over "butter". Butter in this sense is the cilivan goods society needs. Take Britain for an example, the reason why they have one of the best ecomonies in the world is because they use more money on cilivan goods then defense because America is paying the defense (using what money we own from the national debt)

megaminx

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!

Customs and traditions.

A person wants an endless supply of everything but cannot have it.

hard work and patience

Adam Smith's invisible hand theory

A layoff of 500 workers at the city's airport could cause the demand curve for cars in your city to the left.

whether to spend your two-week vacation on the shore or in town

The money multiplier formula is the amount of new money that will be created with each demand deposit, calculated as 1 ÷ RRR.