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Economy #2

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  • Oldest economic system; known as the barter system
    Traditional Economy
  • Economy where the government owns and offers all goods and services
    Command Economy
  • A person's source of money, dependent on the ability to produce
    income
  • money for investment
    capital
  • all things used in producing goods and services
    resources
  • When one company controls an entire industry without any competition
    monopoly
  • exchange (goods or services) for other goods or services without using money
    barter
  • prohibit monopolies and other activity that reduces competition
    anti-trust laws
  • Someone who makes a good or service
    producer
  • Economy most goods and services are offered by private companies
    Market Economy
  • one jobs this agency carries out is to stop companies from competing unfairly
    Federal Trade Commission (FTC)
  • The central bank of the United States
    The Federal Reserve
  • Economy where both governments and private businesses are involved with goods and services
    Mixed Economy
  • A tax on goods from other countries
    tariff
  • The first anti-trust act.
    Sherman
  • The fee charged for the right to borrow money
    interest
  • People who take risks to start a new business
    Entrepreneur
  • Money spent in order to make more money
    investment
  • The anti-trust act enacted in 1914.
    Clayton
  • The way goods and services are produced and consumed
    Economy
  • An economy where companies would compete against each other with no government involvement at all
    "Free Market"
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