Economy Vocabulary

A system in which people make, exchange, and use things that have value.

• Economy

• Market Economy

• Mixed Economy

• Government

An economy in which the citizens own and operate the businesses with no government involvement

• Market

• Mixed

• Command

• Traditional

An economy that is planned and controlled by a central government, no citizen control

• Market

• Mixed

• Command

• Traditional

An economy in which both the government and citizens own, operate, and regulate businesses.

• Market

• Mixed

• Command

• Traditional

When you trade for what you need

• trade

• swaparoo

• barganing

• barter

An economy that is based on subsistence farming and providing for people's most basic needs, often through the use of bartering.

• Market

• Mixed

• Command

• Traditional

Only growing enough food for your family to eat and products are often handmade or traded for food or services

• traditional economy

• subsistence farming

• farming

• bartering

Living in the countryside

• Urban

• Suburban

• Rural

• Peaceful

Farming

• Agriculture

• land

• manufacturing

• traditional

industry

• agriculture

• manufacturing

• factories

• traditional