Econ Flashcards
Customers traditions and beliefs.
Traditional Economy
All the decisions are made by the government.
Command Economy
All the desicions are made on the prices that occer as buyers and sellers interact in the market place
Market Economy
The limited supply of something,
Scarity
Trading without using any money.
Barteing
Competition beetween
Free Enterprise
privite oweners buisnesses make money.
Capatilism
public ownership that has control over property and naturel resouces
Socialism
for finding screening and recruiting.
Supply/demand
he division of a business responsible for finding, screening, recruiting, and training job applicants.
Human resources
Is where there’s 100 percent and there’s 0 percent and them add them.
Mixed Economy
what will be produced, how will it be produced, and how will the output society produces be distributed?
What are the three basic economic questions?
the government
In a command economy, who makes all of the decisions?
mixed economy
Most countries are what type of economy?
