1 of 5

Slide Notes

DownloadGo Live

Economics

Published on Nov 27, 2015

No Description

View Outline

MORE DECKS TO EXPLORE

PRESENTATION OUTLINE

1.

PROPERTY RIGHTS

  • property right is the exclusive
  • Mauthority to determine how a resource is used,
  • determine the use of a resource.
2.

PROPERTY RIGHTS

  • right to delegate
  • rent
  • sell any portion of the rights by exchange
  • or gift at whatever price the owner determines
3.

ECONOMIC FREEDOM

  • Economic freedom or economic liberty or right to economic liberty
  • denotes the ability of members of a society to undertake economic direction and actions.
4.

competition

  • Private owners
  • Wage labor
  • supply and demand through non-market methods
5.

incentives

  • a thing that motivates or encourages one to do something.
  • Organized cooperative activities in a social setting
  • Incentives may be classified according to a number of different schemes,
  • but one of the more useful classifications subdivides
  • incentives into three general types

Alyssa Williams