A | B |
Industrial goods | Tangible items that will be consumed by industrial users |
Means of production | All the resources required in the production of goods and services |
Natural resources | Items that are found in nature and used to produce goods and services |
Markets | Arrangements for the buying and selling of goods and services |
Mixed economy | An economic system in which elements of market and socialist command economies are combined |
Market economy | An economic system in which the questions of what, how, and for whom products will be produced are answered by individuals and businesses in the marketplace |
Medium of exchange | Something of value that can be used to obtain goods and services; most common form is money |
Interdependent | Influencing or relying upon one another |