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agrarian
pertaining to land and the agricultural interest of farmers
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capitalism
an economic system based on private rather than government ownership
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capital
money that can be invested in business
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cash crops
crops that can be sold on the world market for money
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command economy
state controlled economic system; government decides basic economic questions
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communism
an economic system in which a singly party government owns and controls the means of production with the aim of creating a classless society
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deficit
lacking in amount or quantity
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developed country
a country that has developed agriculture, industries, advanced technology and a strong education system
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developing country
a country with limited resources and who faces obstacles such as overpopulation, natural disasters, political instability, and indebtedness in achieving modern industrial economies
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domestic system
system in which workers are provided with raw materials and produce finished products at home
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economic
relating to productions, distribution, and consumption of goods and services
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embargo
complete restriction or restraint of trade; refusal to buy a product
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green revolution
scientific efforts to increase the amount of food produced
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GDP
Gross Domestic Product - the total value of all goods and services provided in a country during a year
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stagflation
economic condition of high unemplyoment, inflation, and little economic growth
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