By: Dante Vargas-Hall and Matt Martinez
Any good owned by an individual or a business.
Connection: These are the "cash crops" that business and realtors sell to the public consumer. These objects are basically the reason why economics are necessary.
Property owned by the government.
Connection: This shows that even though it is a free market, the government still has a hand in economics, and the power to be a business in it's own right.
What someone must make when faced with two or more alternative uses of a resource.
Connection: This factor essentially determines the success of a business. The majority choice can't be wrong, and business that can attract said majority will undoubtedly be successful.
People can exchange what they value less for what they value more.
Connection: This factor is how things get done. Otherwise, everyone would have to manufacture everything for themselves, which is impossible, simply due to the fact that the general population would be unwilling to trade.
The driving force behind improvement of products in order to not fall behind.
Connection: This is the reason for improvement. There is nary a space for complacency when your rival is constantly getting better, which in turn causes you to want to improve to keep your consumers.
Economic incentives are factors that persuade or motivates a particular action by an individual or business.
Connection: This factor is the icing on the cake. Nothing speaks louder than some Ben Franklin's, so this is the ultimate way to sway top-tier talent towards your business.