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Unit 2 Study Stack..
Vocabulary
Question | Answer |
---|---|
Settlement | a small community. |
Migration | the movement of peoples within a country or region. |
Natural Resources | a material on or in the earth, such as a tree, fish, or coal, that has economic value. |
Command Economy | a type of econo9omic system in which production of goods and services is determined by a central government, which usually owns the means of production. Also called a planned economy. |
Traditional Economy | goods and services are traded wihtout exchanging money. Also called "barter." |
Market Economy | a type of economic system in which production of goods and service3s is determined by the demand from consumers. Also called a demand economy. |