PRESENTATION OUTLINE
Adam Smith's principle that a buyer and a seller are guided by an "invisible hand" to enter the market w/o interferrence from the government
"Let it be."
If the government stays out of the way, business will do what's best for consumers.
The process of creating or improving
A reward to inspire someone to accomplish something of value
Pertaining to financial matters
A substitute,
to stand in for
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- Naturally part of from the beginning
- born with
- built into
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- taking the risk of failing
- daring to make a profit
- innovation
the exclusive (sole) possession or control of the supply or trade in a good or service.
System that rewards based solely on merit or achievement