Wage - The amount someone is paid for a job., Production Quota - The number of goods to produce in a time frame., Producer - The person/business making the products/goods., Consumer - The person/people purchasing the products/goods., Traditional Economy - Based on traditions and customs. Jobs are passed down through generations. , Subsistence - The bare necessities , Bartering - Trading without using currency, Pure Command Economy - The government makes all economic decisions., Pure Market Economy - The producer makes all economic decisions., Mixed Economy - A blend of market and command economies., Economic Continuum - A scale that ranks the world's economies from most command leaning to most market learning., Quota - A limit on imported goods., Tariffs - A tax on imported goods., Currency - Money, Currency exchange - Trading one country's money for another country's money of equal value., Specialization - Being really good at producing a few goods/services.,

Australian Basic Economics Review

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