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| ways in which countries decide what to produce, how to produce, and for whom to produce |
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| customs determine what and how to produce; barter is used instead of money |
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| government decides what goods are made and how they will be made |
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| people make the decisions on what to produce, how to produce, and what price to set |
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| individuals make some of the decisions in the economy but there are some government controls |
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| trading without the use of money |
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| products that naturally occur in teh earth and are used to produce products |
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| value that people bring to the marketplace; investing in healthcare, education, and training |
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| physical capital (capital goods) |
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| products that have value; factories, machinery, new technology |
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| person who is willing to take a risk to create a business |
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| goods that a country sells to another country |
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| goods that are bought from another country |
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| limits placed on what a country can trade; used to protect countries from foreign competition |
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| number limit on how many items of a particular product that can be imported from a country |
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| a ban on trade with another country for political reasons |
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| removing trade barriers so that goods flow freely among countries |
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| a group of 27 countries that have united to form 1 economy |
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| the currency used by much of the European Union |
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