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| growing plants and taming animals for personal use. |
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| the growth in the proportion of people living in towns and cities |
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huge urban areas.
most important centers of economic power and wealth. |
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central business district
CBD |
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most city centers are dominated by large stores, offices, and buildings.
transportation hubs where roads, railroads, and buses come together. |
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| clusters of large buildings away from the CBD |
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| food is produced by a family for its own needs. |
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farmers clear trees or brush for planting. sometimes burn debris,
the fields are farmed for a few years, but fertility steadily decreases. the field is eventually abandoned and a new field is cleared. |
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| market-oriented agriculture |
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commercial agriculture.
most common type found in developed countries. |
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| operation of specialized commercial farms for more efficiency and profits. |
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| people freely choose what to buy and sell. |
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| system that lets competition among businesses determine the price of the products. |
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basis of free enterprise
businesses, industries, and resources are privately owned. |
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| the government decides what to produce, where to make it, and what price to charge. |
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| is an economic and political system in which the government owns or controls almost all the means of production. |
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gross national product
GNP |
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| the total value of goods and services that a country produces in a year. includes goods and services made by businesses owned by the country;s citizens but located in foreign lands. |
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gross domestic product
GDP |
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| includes only goods and services created within the country. |
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| the process by which manufacturing based on machine power becomes widespread in an area. |
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| the percentage of people who can read and write also reflects the standard of living. |
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| richest countries, high levels of industrializations, and their people enjoy high standards of living |
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| system of roads, ports, and other facilities needed by a modern economy |
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