<h2>
The following are the key terms matching their definitions:
</h2>
Command Economy: A system where the government tells producers what and how to
.
Planned Economy: An economic system run by the government.
Socialist Regime:<u> </u>A system aimed at equality of wealth among its members.
Theory: An idea about how something should be organized.
Minimum Wage: The lowest hourly wage that can legally be paid to an employee.
Mixed Economy: A system that follows both free-market and command principles.
When Elizabeth I took over the throne of England, she inherited a virtually bankrupt state. So she introduced frugal policies to restore fiscal responsibilities. She cleared the regime of debt by 1574, and 10 years on the Crown enjoyed a surplus of £300,000.
