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Economic Agents (Households h (All those people or individual living under…

- - - - Firm with single owner who has the right to all profit and bear unlimited liability.
    - - Firm with multiple owners who share the firm profit and each liability of the firm's
    - - A legal entity owned by stockholders whose liability is limited to the value of their stock.
- - - - Promoting Competition
      - Regulating Natural Monopolies
      - Producing Public Goods
        
        Goods that once produced, available for everyone to consume.
      - Externality
        
        A cost or benefit that falls on third parties and is therefore ignored by the two parties to the market transaction
      - Income Distribution
      - Policy to balance the market
        
        Fiscal
        
        Monetary