| A | B |
|---|
| macroeconomics | total output for entire countries and governments |
| market | when buyers and sellers interact |
| capital resources | buildings, computers, phones |
| capitalism | the economic philosophy used throughout the U.S. |
| fixed cost | cost that production doesn't change like RENT |
| traditional economy | you do the same job as your parents |
| command economy | the government is in control |
| producers | people who create goods and services |
| social safety nets | protection from hardships like welfare |
| mixed economy | type of economy most countries have |
