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Chapter 6 vocabulary

Horizontales
The part of the economy owned and controlled by the government
The resources and processes involved in the production, distribution and consumption of goods and services.
Rivalry among producers to sell products to consumers
The wants and needs of consumers for a product or service.
Those who Create products and services.
Verticales
System where resources are privately owned
The idea that labor and capital limit the supply of what people want and need.
The products and services created by producers.
Those who use products and services.