| Definition | Vocabulary Term |
|---|
| An economy that allows business owners to complete in the market with little government interference | |
| A fee imposed by a government on imported or exported goods | |
| Resources such a factories, machinery, and tools that people use to make other goods | |
| An economic system with a combination of tradition, command, and market economies | |
| Social roles and culture determine how goods and services are produced, what prices and individual incomes are, and which consumers are allowed to buy certain goods | |
| The knowledge and skills that allowed workers to produce goods and services and earn an income | |
| A limit on the amount of a product that may be imported during a given period of time | |
| Treaty between the US, Canada, and Mexico that reduced trade barriers between the three countries | |
| The rare mixture of the qualities needed to create and run new businesses | |
| The government decides how many of which goods are produced and sets the prices | |
| A type of trade barrier in which a government places restrictions on the import or export of certain goods. Often backed by military force | |
| The total value of the goods and services that a country produces each year | |
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