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GROWTH: The process of increasing the economy's ability to produce goods. Growth is also one of the three macroeconomic goals of an economy (full employment and stability are the other two). Growth is usually measured by increases in gross domestic product or per capita gross domestic product. The main sources of growth are increases in the quantity and quality of the resources. And the primary way of achieving these increases goes by the term investment.

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FREE ENTERPRISE: A term that's often used, erroneously, in reference to capitalism. In principle, free enterprise is an economy in which businesses and consumers are "free" to engage their resources in any desired production, consumption, or exchange without government restriction, regulation, or control.

     See also | capitalism | laissez faire | resources | production | consumption | market | market-oriented economy | exchange | regulation | second estate | third estate | wealth | stock market | scarcity | economy |


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FREE ENTERPRISE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: January 23, 2018].


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INDUCED NET EXPORTS

Net exports by the foreign sector that depend on income or production (especially national income and gross domestic product). That is, changes in income induce changes in net exports. Induced net exports reflect the induced relation between imports and income, which means net exports decline as income increases. They are measured by the negative of the marginal propensity to import (MPM) and are reflected by the negative slope of net exports line. The alternative to induced net exports is autonomous net exports, which do not depend on income.

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Today, you are likely to spend a great deal of time at a flea market wanting to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for broken fingernail clippers.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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