| A | B |
|---|
| capital | anything produced in an economy that is used to produce other goods and services |
| scarcity | means that resources are limited compared with the wants people have |
| consumption | the act of buying or using goods and services |
| factors of production | resources people have for producing goods and services |
| invest | use money to help a business get started or grow |
| capitalism | another name for market system |
| traditional economy | basic economic decisions are made according to long-established ways of behaving |
| command economy | the government or central authority makes basic economic decisions |
| mixed economy | mixture of the three basic economic systems |
| free enterprise | system in which individuals undertake economic activities with little or no control by the government |
