2(1)
economic system
traditional economy
market economy
centrally planned/command economy
mixed economy
factor payments
patriotism
safety net
standard of living
2(2)
market
specialization
household
firm
factor market
profit
product market
self interest
incentive
competition
invisible hand
consumer sovereignty
2(3)
socialism
communism
authoritarian
collective
heavy industry
2(4)
laissez faire
private property
free enterprise
continuum
transition
privatize
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