Economics

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Trade and industry are controlled by private owners for profit.

Goods purchased by consumers of a country that are produced in an other country.

A system in which society owns and controls the means of production.

The price of a good rises and falls depending on how many people want it (demand) and how much of the good is available (supply). Socialism

Production is based on customs and bartering; Usually has no currency.

Goods produced in a country that are then sold in another country.

Considered the founder of modern capitalism.

Amount of money earned before payroll taxes are deducted (removed).