Notes Midterm 2

Notes Midterm 2 - Money a company has after it pays all of...

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Assignment pg 132 income distribution Focus on pg 138 2 nd column till 140 Whats his plan and do you agree with him? Midterm 2 Capitalism – an economic system where the means of production and distribution are in private hands Socialism - an economic system where the means of production and distribution are in government control Profit Motive Profit – is the life-blood of every company.
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Unformatted text preview: Money a company has after it pays all of its expenses. Private property What if anything do corporations owe to the community that they serve? Narrow View Milton Friedman Pay the stockholders Play by the rules Make money Broad View Utility greatest good for the greatest number Commercializing America materialism...
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