Term
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Definition
| a system of producing, distributing, consuming, and owning goods, services, and wealth. |
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Term
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Definition
| a person who buys and uses goods and services. |
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Term
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Definition
| a person who makes products used by other people. |
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Term
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Definition
| an economic system in which private individuals or private groups of people own most businesses (U.S.). |
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Term
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Definition
| an economic system in which the government owns all large businesses and most of a country's land; a political system in which the central government controls all aspects of a citizen's lives (China). |
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Term
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Definition
| a nation with many industries and advanced technology. |
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Term
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Definition
| a nation with few industries and simple technology. |
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