Free Market Economy
The Weath of Nations?
Adam Smith.
Goods or Services People Want to Buy?
Demand
What Prevents the Government from Denying People's Rights?
Ninth Amendment
Deforestation in England?
A shortage of wood for lumber
Producer?
Makes goods or services.
Good or Services Available to be Sold
Supply.
5th Amendment?
Private property can not be taken for public use without being given compensation.
Pump Water out of Coal Mines.
What is steam power?
Govenments/Nations
Prices Fall?
When demand is lower than supply.
Reinforces the Idea of Free Market?
Constitution/Bill of Rights
Decisive technology during the Industrial Revolution Was?
Coal fire steam engine
Buys Goods and Services?
Consumer
Prices Rise?
When Demand is higher than supply?
What Gives you Exclusive Rights?
Patents
What does the word technology derive from?
Techne meaning or craft.
Type of Economy?
Free Market.
The Foundation of our Econonmy
Free Market
Prevents States from Taxing Imports?
Constitution Article 1: section 10
Popular Energy Source for Grinding Grain?
Water power.