| A | B |
|---|
| bartering | one good/service is given in return for another; bartering has no money exchange |
| command economy | an economic model where all decisions are made by the government |
| economic system | an economic model used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom |
| entrepreneurship | private citizens who create new businesses |
| market economy | an economic model which the supply and demand determine what is produced/consumed and at what cost |
| subsistence | producing only what is necessary for personal use/survival |
| traditional economy | an economic model governed by custom, habit, and history |
| wage | term for one's financial earnings |
