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Euopean economics

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QuestionAnswer
Bartering a system of exchange whereby one good/service is given in return for another
command economy an economic model wherein government planners make all business and financial decisions
economic system an economic model used by governments to determine what should be produced/provided in terms of goods and services
entrepreneurship the captivity of private citizens to create new businesses of government direction or intervention
free enterprise the creation, maintenance, and expansion of businesses outside the control or influence of the government
market economy an economic model which laws of supply and demand determine what is produced/consumed and at what cost
production quota the required amount of a specific good that must be produced
subsistence
traditional economy
wage
Created by: 200423501
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