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Which colony was intended as a haven for Catholics in the seventeenth century?
Command Economy
An economic system where the government or a central authority makes all decisions regarding the production and distribution of goods and services.
Market Economy
An economic system in which supply and demand from consumers primarily control the production and distribution of goods and services.
Medium of Exchange
Any item sellers generally accept and buyers generally use to pay for a good or service; money; a convenient means of exchanging goods and services without engaging in barter.
Coincidence of Wants
A situation in barter economies where two parties each possess goods or services that the other desires, enabling a direct exchange without the need for a common medium of trade.
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