Supply and Demand: The relationship between the availability of a product or service (supply) and the desire or need for it (demand). Prices rise when demand exceeds supply and fall when supply exceeds demand.
Competition: The rivalry between producers or sellers in an industry striving for customers' business. It drives innovation, efficiency, and lower prices as businesses try to outperform each other.
Profit Motive: The driving force behind free-market capitalism, where individuals seek financial gain by making rational economic decisions. It incentivizes entrepreneurship and encourages efficient allocation of resources.