| A | B |
|---|
| capitalism | an economic system controlled by private individuals and based on profits |
| barter | exchange for goods or services |
| trade | the exchange of goods and service for money |
| economy | the system of using and distributing resources |
| scarcity | a short supply of something |
| distribute | to divide up and spread around |
| goods | items that are produced,bought and sold |
| services | work provided for a price |
| agricultural | farming and herding |
| industrial | manufacturing |
| recesssion | a slow down in production and sale of goods |
| command economy | an economic system operated by a government |
| opportunity cost | the sacrifice made with economic choices |
| capital | money used for investment |
| market | individuals involved in production and consumption of goods |
| government | the institution of law and order |
| bureaucracy | system of government workings |
| republic | a government of citizen chosen representatives |
| democracy | a government directly by citizens |
| nationalism | strong pride in one's nation |
