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1
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Economic system where individuals own most businesses
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2
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General rise in prices - money is worth less
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3
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Spending your money on something that may grow in value
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4
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Not enough resources to meet needs and wants
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6
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Economic system where the buyers and sellers make the economic decisions
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7
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Economic system with a system of markets where the government plays an important role
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8
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Nations with few industries and simple technology
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9
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Item we would like to have but is not necessary for survival
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13
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Economic system where the central government owns factories, farms, and offices
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14
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Choose one action or course over another; gives up opportunities
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16
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Economic system where the central authority makes all the decisions; government control
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18
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Taxes on imported goods
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19
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Gross Domestic Product; total dollar value of goods produced in a country
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20
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Items like air, food, and shelter; necessary to live
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22
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Owners and workers
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23
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The ability and desire of consumers to buy a good
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25
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Using resources in a way to maximize the production of goods and services
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26
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Paper money or coins
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28
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A system where people make, exchange, and use things that have value
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