Econ

Question 1

The exchange of goods through bartering

Answer 1

Traditional Economy

Question 2

All economic decisions are made by: GOVERNMENT

Answer 2

Command Economy

Question 3

All economic decisions are based on what consumers want

Answer 3

Market Economy

Question 4

The limited supply of something

Answer 4

Scarcity

Question 5

Trading without using money

Answer 5

Battering

Question 6

Market and Command together

Answer 6

Mixed Econonmy

Question 7

Competition between companies

Answer 7

Free Enterprise

Question 8

A political system in which countries trade and industry are controlled by private owners for profit.

Answer 8

Capitalism

Question 9

a political and economic theory of social organization which advocates that the means of production

Answer 9

Socialism

Question 10

have a lot of what people don’t have

Answer 10

Supply/Demand

Question 11

What terms means workers and their skills used to produce a good or service

Answer 11

Human Resources

Question 12

What are the three basic economic questions?

Answer 12

What, How, Who

Question 13

In a command economy, who makes all of the decisions?

Answer 13

Government

Question 14

Most countries are what type of economy?

Answer 14

Mixed Economy