econ

Question 1

all economic decisions are based on customs,traditions, and beliefs

Answer 1

traditional economy

Question 2

all economic decisions are made by the government

Answer 2

command economy

Question 3

all economic decision are based on the changes in prices that occur as buyers and sellers interact in the market price

Answer 3

market economy

Question 4

is where countries have both market and command economies

Answer 4

mixed economy

Question 5

when there is not a lot of something in places

Answer 5

scarcity

Question 6

trading for thing instead of using money

Answer 6

bartering

Question 7

competition between companies

Answer 7

free enterprise

Question 8

when a counties trade and industry are controlled by private owners

Answer 8

capitalism

Question 9

when the people have to decide everything they have to work together to decide

Answer 9

socialism

Question 10

the amount of goods available for the people

Answer 10

supply/demand

Question 11

when the people do all of the work and all of the labor

Answer 11

human resources

Question 12

what goods/services will be produced, how will the goods/services be produced, who will consume the goods/services

Answer 12

what are three basic economic questions

Question 13

the government

Answer 13

in a command economy who make all of the decisions

Question 14

mixed

Answer 14

most countries are what type of economy