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everything has a cost, people choose for good reasons, incentives influence people's choices, economic systems influence people's choices, people gain from voluntary trade, people's choices influence the value of a good or service, people's choices may have un-intended consequences, choices made today affect what happens tomorrow
name the 8 principles of economic thinking
type of economy where there is individual choice, voluntary exchange, and competition
an economy with strong government control and the government owns some or all factors of production
a type of mixed economy where the consumers decide what is made, there is private ownership of the factors of production, the goal is a profit, and the government takes a limited role
type of mixed economy where government owns all factors of production, and the gov't uses powers to distribute resources equally
type of mixed economy where government owns all means of production and distribution, and the gov't dictates all parts of life.
a group that separates themself from other groups through similar dress, view themselves positivley and others negativley, and compete with out-groups
a group that provides safety and solidarity, a combination of primary and secondary group
a set of two or more people who interact on a basis of shared expectations who possess some degree of common identification
Age, mood control, dominance, energy, physique, appearance
6 items with the lowest correlation to leadership
capacity, achievement, responsibility, participation, status, situation
6 most important traits in relation to leadership
Drive, motivation, honesty, self confidence, cognitive ability, knowledge of business
core traits of a leader
symptom of groupthink where the group comes up with solutions as problems arise, past problems are blamed on outside factors beyond your control
symptom of groupthink where the group doesn't think about the ethical or moral consequences of their actions
symptom of groupthink where the ingroup has a view of the outgroup that makes them think that differences don't make a difference and assume things
symptom of groupthink where anyone who thinks differently is forced to agree with the group's consensus
symptom of groupthink where everyone thinks that the others are thinking the same thing, and they don't want to be the different one
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