Modern Economic Systems

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18 Terms

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Economic System

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Manorialism

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Mercantalism

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Enclosure Movement

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Money

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Moneys three functions

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Fiat currency

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Inflation

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Capital

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Adam Smith

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Key ideas in Wealth of Nations

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Labor theory of value

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5 Core Principles of Capitalism (Market Economies)

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Karl Marx 

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Key ideas in Communist Manifesto

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Historical materialism (historical epochs leading to communism)

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Marx’s 5 core critiques of Capitalism 

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Core principles of Communism