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1 Essential Questions and Enduring Understanding
1 Essential Questions and Enduring Understanding

... in determining what is produced, how to produce it and who will get it in the free enterprise economy. A market economy is influenced by supple and demand. A free people have freely chosen economic activities-people own property and businesses; people can try to sell products; people have choices on ...
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Steady-state economy

A steady-state economy is an economy of relatively stable size. A zero growth economy features stable population and stable consumption that remain at or below carrying capacity. The term typically refers to a national economy, but it can also be applied to the economic system of a city, a region, or the entire planet. Note that Robert Solow and Trevor Swan applied the term steady state a bit differently in their economic growth model. Their steady state occurs when investment equals depreciation, and the economy reaches equilibrium, which may occur during a period of growth.
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