Core concepts 2.1-2.9

A system of basic rules and principals by which a government is organized

In this system, power is divided among central, regional, and local goverment

The exchange of goods and services in a market

The study of how people meet their wants and needs.

An organized way for producers and consumers to trade goods and services

A legal member of a country.

An economy that combines the elements of traditional, market, and command economic systems.

A form of government in which citizens hold political office

A plan that shows income and expenses over a period of time.