OGT -2
Order by
9 terms
Terms | Definitions |
|---|---|
 command economy | government makes all economic decisions |
| market economy | privately owned buisnesses |
| mixed economy | combination of private and government controlled business |
| import | product entering a country |
| export | product leaving a country |
| embargo | refuse to trade with another country for political reasons |
| Federal Reserve | sets economic policies for US |
| tariff | tax on imports |
| trade imbalance | when imports and exports are not equal |
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