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10 Cards in this Set

  • Front
  • Back
System of resources management in which decisions about production and distributation of goods and services are made by central authority.
Command Economy
Products and services that directly satisfy human wants.
Consumer Good
Illegal trafe of scarce or illegal goods, usually sold at high prices.
Black Market
An economic system based on free enterprise, in which businesses are privately owned, and production and prices are determined by supply and demand.
Market Economy
a change to private ownership of state-owned companies and industries.
Privatization
In the Soviet Union, a small farm worked by farmers who shared in the farms production and profits.
Kolkhoz
In the Soviet Union, a large farm owned and run by that state.
Sovkhoz
The by-product of producing nuclear power.
Nuclear Waste
Material contaminated by residue from the generation of neclear energy.
Radioactive Material
Chemical used to kill insects, rodents, and other pests.
Pesticide