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OG econ

Barter: The direct exchange of goods or services between people.
Bond: A financial promise foran investment issued by a corporation or government with regular interest payments and repayment at a later date.
Capital Resources: The vphysical equipment used in the productin of goods and services.
Cartels: A group of sellers acting together in the market.
Circular flow: The movement of resources goods and services through an economy. As a diagram, it can show how households and business firms interact with each oyher in the product and resource markets.
Command economy: A system in which decisions are made largely by an authority such as a feudal lord or government planning agency.
Comparative advantage: Economic thery that a country/individual should sell goods and services which it can produce at relatively lower costs and buy goods and services which it can produce at relatively higher costs.
Competition: The rivalry among people and/or business firms for resources and/or consumers.
Consumer: One who buys or rents goods or services and uses them.
Consumer Price Index: The price index most commonly used to measure the impact of changes in prices on households;this index is based
Created by: ramiro l