Capitalism is an economic system in which private individuals or businesses own and control the means of production and distribution of goods and services.

In a market economy, the price of a good or service is determined by the interaction of supply and demand.

The law of supply states that, all other factors being equal, as the price of a good or service increases, the quantity supplied of that good or service will also increase.

The law of demand states that, all other factors being equal, as the price of a good or service decreases, the quantity demanded of that good or service will increase.

International trade allows countries to specialize in the production of goods and services in which they have a comparative advantage, promotes economic growth and development, and reduces poverty and inequality.

Gross Domestic Product (GDP) is the value of all final goods and services produced in a country in a given period of time.

Gross National Product (GNP) is the value of all goods and services produced by a country's residents, regardless of where they are located.

Net National Product (NNP) is the value of all goods and services produced in a country, minus the value of depreciation and other capital consumption allowances.

National Income is the total income earned by all residents of a country in a given period of time.

Balance of Trade is the difference between a country's exports and imports.

Balance of Payments is the difference between a country's current account and its capital account.

Exchange Rate is the value of a country's currency in terms of another country's currency.

Inflation Rate is the rate at which prices for goods and services are rising.

Interest Rate is the rate at which banks charge for loans.

Unemployment Rate is the percentage of the labor force that is unemployed.