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Government/Economic Basics > Comparing Economic Systems > Flashcards

Comparing Economic Systems Flashcards

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1
Q

Nation-State

A

Country that is homogenous.

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2
Q

Communism

A

Everyone is the same and all wealth and property are communally owned.

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3
Q

Capitalism

A

Industries are owned by private individuals. No government interference.

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4
Q

Human resource

A

Person and their skills.

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4
Q

Supply and Demand

A

The amount of product avaliable and peoples willingness to buy the product.

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Government/Economic Basics (3 decks)

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