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Published byMillicent Griffin Modified over 8 years ago
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Diction of the United States Government
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Goal Seven Automation Capital Communism Consumer sovereignty Fiscal Policy Human Capital “Invisible Hand” PPI Socialism Specialization
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Automation When companies increase their productivity by using machines to do what would normally be done by laborers.
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Capital Anything used to produce goods.
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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.
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Consumer sovereignty When the demand of goods by consumers directly controls how much producers produce. We want this much! Fine...
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Fiscal Policy How the government chooses to use public spending to manipulate demand as a whole.
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Human Capital Things that increase a workers ability to do their job, personally. Working age now raised to seventy
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“Invisible Hand” A market economy must have three things to keep it going smoothly; competition, capitalism, and free enterprise.
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PPI (Producer Price Index) An organization that keeps track of inflation and deflation of all goods.
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Socialism When the government controls and owns everything a country has including its people and properties. There is no private property of personal businesses.
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Specialization Commitment by a certain worker or group of workers to gain a certain resource or to meet a specific goal.
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