an economy in which a central government controls production, investment, prices, and incomes.

A system of centralized political power and economic system in which a single-party or dictatorship abolishes private property and controls the means of production and the distributions of goods and services.

The amount consumers want to buy; together with supply will impact price

The method used by society or government to organize production and distribute resources, goods and services.

an economic system in which production and prices are determined by supply and demand and unrestricted competition between privately owned businesses.

an economic system in which some elements are left to the free market but other parts of managed by the government.

A political and economic way of organizing the state and society in which the government owns and controls major industries rather than individual people and companies.

How well people live in a town, region, or country in terms of income and wealth

the amount that is produced; together with demand will impact price