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Hi! My name is Frank and I am going to explain the importance of Free Enterprise and some special vocabulary as well!
Let's start with the term: Public Interest
Oh! Public interest is the concerns of the public as a whole. I learned that in my economics class.
Public policy are laws and standards on topics of public interests.
Imagine what a society would be like if we did not have a public policy... yikes
An interest group is a private organization that tries to persuade public officials to act or vote according to group members' interests
Think of all the YouTube ads... how many of those ads have to do with a political persuasion? Quite a few.
Public disclosure laws are laws requiring companies to provide full information about their products.
For example, food companies are required to provide all ingredients that go into their food.
The poverty threshold is an income level below that which is needed to support families or households.
12.7 percent of Americans are considered under the poverty line.
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