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1
legal system protects private property
2
competition promotes efficient use of resources and creates improvements
3
policies that reduce trade are bad
4
a nation must have a mechanism that gives out capital into wealth-creating projects
5
inflation is bad must have stable policies
6
people will produce more when they can keep more of what they earn
7
a nation progresses by selling stuff that is easy to produce for a high price and buying stuff that is harder to produce and cheaper
Author
benmfox
ID
3190
Card Set
Economics
Description
7 Major sources of economic progress
Updated
2009-12-16T01:44:17Z
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