Market Economy- is a economy where you buy or sell goods

Command Economy- an economic system which production and distribution of goods is controlled by the government

Traditional Economy- an economic system in which traditions, customs, and beliefs shape the goods and the products the society creates

Market- a regular gathering of people for the purchase and sale of provisions, livestock, and other commodities

Barter- exchange goods for goods without using money

Embargo- an official ban on trade with a particular country

Tariff- a tax or duty to be paid on a particular class of imports or exports

Quota- a limited number or amount of people or things, in particular

Trade Barrier- a measure that governments introduce to make imported goods

Capital- the most important city or town of a country or region

Human Capital- the skills, knowledge, and experience possessed by an individual or population

Capital Goods- goods that are used in producing other goods

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