Diction of the United States Government

Goal Seven Automation Capital Communism Consumer sovereignty Fiscal Policy Human Capital “Invisible Hand” PPI Socialism Specialization

Automation When companies increase their productivity by using machines to do what would normally be done by laborers.

Capital Anything used to produce goods.

Communism When everyone in a country helps to improve the way their country runs. Everyone is for the greater good of their country. Evolved from socialism.

Consumer sovereignty When the demand of goods by consumers directly controls how much producers produce. We want this much! Fine...

Fiscal Policy How the government chooses to use public spending to manipulate demand as a whole.

Human Capital Things that increase a workers ability to do their job, personally. Working age now raised to seventy

“Invisible Hand” A market economy must have three things to keep it going smoothly; competition, capitalism, and free enterprise.

PPI (Producer Price Index) An organization that keeps track of inflation and deflation of all goods.

Socialism When the government controls and owns everything a country has including its people and properties. There is no private property of personal businesses.

Specialization Commitment by a certain worker or group of workers to gain a certain resource or to meet a specific goal.