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10 Cards in this Set

  • Front
  • Back
a building, structure, machine or tool that is used to produce goods or services
captial good
the expansion of an economy's amount of capital goods
capital accumulation
trade among nations that is not restrained by protective tariffs or other governmental restrictions
free trade
a system in which private business operated with minimal government involvement
free enterprise
an economy in which the government has little say in what, how, or for whom goods are produced
market economy
an economy in which the government has significant control over what, how, and for whom goods are produced
command economy
the act of returning property or functions previously owned or performed by the government to the private sector
property that is owned by individuals and businesses rather that by the government
private property
one in which the government owns and controls nearly all of the factors of production
socialized economy
the organizational abilities and risk-taking involved in starting a new business or introducing a new product into the market place