The Constitution<span> of 1776 established the former colony's </span>first<span> independent government. ... The </span>Constitution<span> was amended in 1777 when </span>South Carolina <span>became the second colony to ratify the Articles of Confederation. The Articles of Confederation were the </span>first written constitution<span> of the United States of America.</span>
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Market: Means by which individuals interact to buy or to sell; mechanism that coordinates the independent intentions of buyers and sellers.
Before we can go on, it is important to understand what economic actors are interacting in these markets and their relationships to one another.
Four (broadly defined) economic actors are:
1. Households
2. Firms
3. Governments
4. "The Rest of the World"
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