History 26-28

• to sell goods to other countries
• a good produce in one country, but sold to another

a tax on an imported good

individuals and nations working across barriers of distance, culture, and technology

a good purchased from one country by another country

a limit on the amount of foreign goods imported into a country

involvement in world affairs

the ability of a country to produce a good at a lower opportunity cost

a system in which private citizens own most, if not all, of the means of production and decide how to use them within legislated limits

economic system in which the central government directs all major economic decisions

economic system in which government owns some factors of production and distributes the products and wages

an economic system in which the major economic decisions are made by the central government

system in which individuals own the factors of production and make economic decisions through free interaction

a government in which one leader or group of people holds absolute power

a monarch that has complete and unlimited power to rule his/her people

a government controlled by one person or a small group of people

a system in which government control extends to almost all aspects of peoples lives

the power of the herditary ruler is limited by the country's constitution