Economics Chapter 2 - Funsheet 3 - KEY
Economics Chapter 2 - Funsheet 3 - KEY
Economics Chapter 2 - Funsheet 3 - KEY
Standard: SSEF4 1. Adam Smith was a free market philosopher who came up with the invisible hand theory. 2. Laissez faire is the doctrine that the government generally should not interfere in the marketplace. 3. A market is an arrangement that allows buyers & sellers to exchange things. 4. Specialization is concentrating your productive efforts on a limited number of things. 5. Income is the amount of money a person makes in a certain period of time.