All terms in this list:

communism: An economic system where there is no private property- the community owns everything and everything is shared equally

free market economy: an economic system without government intervention/rules

Traditional System: A barter system where past practices run the economy

Mixed Economy: A combination of other systems

Command Market Economy: A system where the government controls the economy

economic system: a way of making, distributing and using goods and services

recession: A period of reduced economic activity (The economy getting worse)

depression: A long & significant downturn in the economy

economic growth: The growth of the output ($, jobs. goods, services) of a country.

reform: Change, usually for the better

transformation: a marked change in appearance or character, especially one for the better

boom: Fast economic growth

bust: without any money, broke

unemployment: The state of having no job; joblessness.

prosperity: The condition of being prosperous, of having good fortune

expansion: The act or process of expanding.

contraction: A period of economic decline or negative growth.

recover: To get back, regain (a physical thing lost etc.).