| A | B |
|---|
| primary industry | uses natural resources to make money |
| secondary industry | use raw materials to produce or manufacture something new |
| tertiary industry | provide services and goods to people and buisnesses |
| quaternary industry | process and distribute information |
| traditional market | an economy for which people grow their own food and make their own goods |
| market economy | is a system based on private ownership, free trade, and competition |
| command economy | a system in which the central government makes all the economic decisions |
| mixed economy | a system which uses a mixture of a market economy and command economy |
| Gross Domestic Product (GDP) | the value of all goods and services produced within a country in a single year |
| per capita | per person |
| developed countries | countries with strong economies and high quality of life |
| developing countries | countries with less productive economies and a lower quality of life |
| supply | the amount of goods and services that are available at a given time |
| demand | the amount of goods and services that consumers are willing to and able to buy at a given time |
| currency | paper and coins that a country uses for its money supply |
| China | mixed economy |
| North Korea | command economy |
| United States | market economy |
| Niger's Sahel Region | traditional economy |
| free play | traditional economy |
| recess | market economy |
| recess with lots of adults | mixed economy |
| team sports | command economy |
| innovation | the driving force that makes a market economy successful |
