| A | B |
|---|
| Free Trade | trade between nations without protective tariffs |
| Inflation | a continuing rise in the prices of goods and services |
| Tariff | a tax levied on goods imported into a country |
| Protectionism | protecting domestic producers by limiting the import of foreign goods |
| Entrepreneur | a person who innovates and decides which projects to undertake |
| Innovation | introduction and adoption of a new product or process |
| Soviet Union | Communist country that was dissolved in 1991 after republics declared independence |
| Communism | Economic system in which the state has control of production and resource allocation |
