Master this deck with 10 terms through effective study methods.
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They aim to protect competition and correct market failures.
Market decisions are driven by business-consumer interactions.
Maximizing profit through efficient consumer needs fulfillment.
The principle of fairness in resource distribution.
Profits are easily quantifiable; fairness is subjective.
They use the product directly.
Taxpayers may never use the services directly.
Through individual purchasing choices.
It is based on majority voting, not individual agreement.
Firms can achieve higher profits.