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Economic Systems

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Term
Definition
show a system of exchange in which one type of good or service is traded for another type of good or service without the use of money  
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capitalism   show
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command economic system   show
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show the new terminology for command economic system  
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show government by the people  
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economic elements   show
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gross domestic product (GDP)   show
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show the total value of goods and services produced in one year by a nation’s residents no matter where they are located  
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show an economic system in which the types and costs of goods and services are determined by consumers and producers  
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show an economic system in which elements of all three economic systems (traditional, market, and command) are present  
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traditional economic system   show
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