Capital - Money and supplies needed for the economy, Command Economy - Economy where the government makes most decisions, Socialism - An economy where citizens and government make most, Traditional Economy - An economy where family and culture make most decisionss, Entrepreneur - The person with the idea for the business, Market Economy - An economy where citizens make most decisons, Land - All natural resources needed in an economy, Labor - All of the human workers, Agriculture - Economic activity that produces natural resources, Retail - Economic activity that includes the sale of goods, Manufacturing - Economic activity making man-made goods, Service - The highest level of economic activity,

Economic Terms

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