By Diamond Randall
Market Economy is an economy in which decisions regarding investment , production , and distribution are based on supply and demand , and prices of goods and services are determinded in a free price system.
Example: Characteristics, Advantages , and Disadvantages.
An economy in which production , investment , prices , and incomes are determine centrally by a government
Example: Command Economies
A Traditional Economy is an original economic system in which traditions , customs , and beliefs shape the goods and the products the society creates . Countries that use this type of economic system are often rural and farm based.
Example: Bangladesh and Burma
Advertise or promote
Example : Automobile Market
Exchange for other goodsor services without using money
Example :Batering for food service
An official ban trade or other commercial activity with particular country.
Example : Groups
A tax or duty to be paid on a particular class of import and export
Examples : Taxes
A limited or fixed number or amount of people or things
Examples : Amount
Are measures that government or public authorities introduce to make imported goods and services less competitive than locally produced goods and services
Example : Public Authorities
The most important city or town of a country and region
Example : region
The skills knowledge and experience possessed by an individual or population viewed in terms of their
Examples : Knowledge
Goods that are used in producing other goods , rather than being bought by consumer
Example : Candy , Chocolate, Bubble Gum
Factors of Producton
An economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit
Example : product goods
Gross Domestic Product
The total value of goods produced and services provided in a country during one year
Examples : The Department of Commerce
Standard Of Living
The degree of wealth and material comfort available to a person or community
Example : High standard of living is a wealthy person who can buy anything she or he wants
This entry includes a definition of literacy and census bureau percentages for the total population , males , and females.
Example : significantly increased their budget allocation to literacy
Medium of Exchange
Is an intermediary used in trade to avoid the inconveniences of a pure barter system
Example : To illustrate the concept and function of money
Is an economic system variously defined as containing a mixture of markets and economic planning .
Example : Share government spending as a % of GDP
A good is a material that satisfies human wants and provides utility.
Example : To a consumer making a purchase
An economic system or sector based in buying and selling of services
Example : economic goods