chapter 2 Matching
an economic system demo socialism |
an economic system in which the gov. owns or controls nearly all factors of production |
an agreement made between producer and consumer |
property owned legally by individuals |
individuals own and control production |
money that one is earned from their job |
the impulse that encourages people to fulfill their needs and wants |
exchange made by a volunteer |
a market that sells resources to companies to make their products |
an economy in which a central gov. authority makes all basic economic decisions and controls the factors of production |
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