| A | B |
|---|
| agrarian | another term for farming |
| agriculture | farming |
| capitalism | to make money/a profit |
| command economy | government controls all businesses, says what will be sold and at what price |
| consumers | people who buy and use goods, clothing, food, etc. |
| economics | making money, what people do to survive, their work |
| free market economy | businesses can sell what they want, set the price, make & keep the profit |
| free enterprise | another term for capitalism, business without government interference |
| irrigation | to bring water to crops |
| manor | a large, self-sufficient piece of land |
| manorialism | a self-sufficient economic system, occurs during feudalism |
| mercantilism | buying and selling goods for a profit |
| merchant | people who sell goods |
| per capita | how much $ a person makes in a year |
| per capita income | how much money a person makes in a year |
| subsistence economy | people barely make enough to survive/live |
| traditional economy | people farm for a living, usually done by hand |
| urbanization | people move to cities for jobs, modern, women have more rights, BUT overcrowded |
| mixed economy | the government owns & controls and operates key industries/resources; postal system, water companies, hospitals |
| socialism | another term for "mixed economy"; medical care is regulated by the government so EVERYone is taken care of, yet the quality is sometimes poor, and taxes are high |
