Economics and Political Terms

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Political

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Relating to government.

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Capitalism

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An economic system in which private individuals or businesses own capital goods.

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Primary Economy

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Exports main resources to other economies.

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Free Market

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A type of economic system controlled by the market forces of supply and demand, as opposed to one regulated by government controls.

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Informal Economy

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Anything that counts as a service that an individual gains payment for the service given.