Examlex
Exercise for people in late life is
Competitive Market Economy
An economic system where numerous buyers and sellers interact in the marketplace, with competition determining the price and quantity of goods and services.
Self-interest
The pursuit of personal gain or advantage, whether economic, psychological, or physical.
Command System
A method of organizing an economy in which property resources are publicly owned and government uses central economic planning to direct and coordinate economic activities; socialism; communism. Compare with market system.
Central Planning
An economic system where the government or a central authority makes all decisions about the production and allocation of goods and services.
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