| A | B |
|---|
| Name for a system in which economic decisions are based on custom or habit. | Traditional economy |
| What is the name for a situation in which the value of the products a country imports exceeds the value of its exports? | trade deficit |
| What is it called when there is a limit on the amount of foreign goods imported? | quota |
| Name for international trade without trade barriers. | free trade |
| Name for goods sold to other countries. | exports |
| Name for the belief that the means of production should be owned and controlled by society. | socialism |
| Name for the economy in which major decisions are made by the central government. | command economy |
| Name for the economy in which private ownership of property and individual decision making are combined with government intervention and regulations. | mixed economy |
| Name for the total GDP divided by the country's population. | per capita GDP |
| Name for goods purchased from abroad. | imports |
