Term
|
Definition
| in a Market economy people freely choose what to buy and sell. |
|
|
Term
|
Definition
| This system lets competition among business determine the prices of products. |
|
|
Term
|
Definition
| Bussiness, industries, and resources are privitly owned. |
|
|
Term
|
Definition
| the goverment decides what to produce, where to make it, and what price to charge. |
|
|
Term
|
Definition
| is an economic and political system in which the goverment owns or comtrols almost all the means of production. |
|
|
Term
|
Definition
| is the total value of goods and services that a country produces in a year. |
|
|
