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| Term | Definition |
|---|---|
| Macroeconomics | large scale or general economic factors, such as interest rates and national productivity. |
| gross domestic product(GDP) | GDP measure the value of goods and services produced in a country in a given period of time. |
| supply chain | a network of people and entities who are involved in creating a product and delivering it to its consumer. |
| inflation | The overall general upward price movement of goods and services in an economy. |
| Deflation | The overall general downward price movement of goods and services in an economy. |
| Traditional | a traditional economy is a system where goods production and distribution are driven by time-honored beliefs, customs, culture, and traditions. |
| Market | An economic system in which production and prices are determined by unrestricted competition between privately owned businesses. |
| Command | An Economy in which production, Investment, prices, and incomes are determined centrally by a government. |
| Mixed | An Economic system combining private and public enterprise. |
| Capitalism | An Economic and political system in which a country's trade and industry are controlled by private owners for profit. |
| Laissez | Absence of governments from interfering in the workings of the free market. |
| Social Market | Social marketing is a marketing approach which is a marketing approach which focuses on influencing behavior. |
| Socialism | A political and Economic theory of social organization which advocates that the means of production. |
| Communism | A political and Economic ideology that positions itself in opposition to liberal democracy and Capitalism. |