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OG econ

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Question
Answer
Barter:   The direct exchange of goods or services between people.  
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Bond:   A financial promise foran investment issued by a corporation or government with regular interest payments and repayment at a later date.  
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Capital Resources:   The vphysical equipment used in the productin of goods and services.  
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Cartels:   A group of sellers acting together in the market.  
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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.  
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Command economy:   A system in which decisions are made largely by an authority such as a feudal lord or government planning agency.  
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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.  
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Competition:   The rivalry among people and/or business firms for resources and/or consumers.  
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Consumer:   One who buys or rents goods or services and uses them.  
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Consumer Price Index:   The price index most commonly used to measure the impact of changes in prices on households;this index is based  
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