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soc economy
Term | Definition |
---|---|
command economy | the government makes all of the prices |
market economy | the producers make all of the prices |
traditional economy | the prices are based of the prices form back in the day |
human capital | based on the skills that the person possesses |
voluntary trade | trade based on other peoples decisions |
international trade | where two countries trade between each other |
industrialization | development of manufacturing in countries |