| A | B |
|---|
| COMMAND SYSTEM | AN ECONOMIC SYSTEM IN WHICH THE GOVERNMENT CONTROLS THE PRODUCTION AND DISTRIBUTION OF GOODS AND SERVICES |
| CONSUMER | A PERSON WHO BUYS GOODS AND SERVICES |
| ECONOMIC SYSTEM | THE WAY THAT A COUNTRY OR CULTURE PRODUCES AND DISTRIBUTES GOODS AND SERVICES |
| MARKET SYSTEM | AN ECONOMIC SYSTEM IN WHICH INDIVIDUAL, NOT THE GOVERMENT, CONTROL PRODUCTION AND DISTRIBUTION OF GOODS AND SERVICES; ALSO CALLED CAPITALISM |
| MIXED SYSTEM | AN ECONOMIC SYSTEM THAT INCLUDES BOTH PRIVATE OWNERSHIP OF PROPERTY AND GOVERNMENT CONTROL OF SOME SERVICES AND INDUSTRIES |
| PROFIT | THE MONEY MADE BY A BUSINESS AFTER ALL COSTS HAVE BEEN PAID |
| STANDARD OF LIVING | A WAY TO MEASURE HOW WELL THE NEEDS AND WANTS OF CITIZENS ARE BEING MET BY A COUNTRY'S ECONOMIC SYSTEM |
| TRADITIONAL SYSTEM | AN ECONOMIC SYSTEM BASED ON PAST WAYS OF LIFE AND CULTURE |
