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| The prodcution,distribution, and consummptionof goods and sevices. |
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| the markers of a product/providers of a service. |
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| the people buying the goods and services |
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| based on tradition and customs |
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Definition
| (free) decisions are made through the market by buyers and sellers. Pricess are determined through supply and demand. |
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| (free enterprise)- themost business are privately owned and there is competition to try to create better products at a lower price. |
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| decisions are made by a central authority |
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| countries that are industrilized |
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Definition
| the way a product is produced |
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| people farming on asmall plot of land, growing just enough food for feeding their families. |
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| the production,distribution, and consumption of goods and services |
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| too little or not enough of something or a product |
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Definition
| the people who can read and write living in a particular place. |
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| how long a person is expected to live in a particular place |
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| how many people want a product or service |
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| how mych something is available |
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