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| the study of the production, distribution, and consumption of goods and services |
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| the system of production, distribution and consumption of goods and services of an economy. |
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| An economic system in which all resources are privately owned and distributed |
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| An economic system where around half of resources are owned privately and the other half owned publicly by the government |
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| The idea that land, labour, capital (money) limit the supply of what people want and need |
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| The products and services created by producers and the wants and needs of the consumers for those products |
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| Rivalry between producers to sell products to consumers |
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| When the government becomes involved in the economy. Establishing crown corporations |
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| Companies that are owned and operated by the government |
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| An organization of workers that acts to protect workers' rights and interests |
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Definition
| To buy the products put out by the producers in order to put their money back into the economy |
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