Economic system Flashcards
scaredy
the limited suply of something
what are the 3 basic economics
what service will purduse
how goods be produced
who will consume the goods
ALL econemic decisions are based on
customs religion beliefs
What is bartering
without using money
All economic decisions are made by the …
government
economic decisions are made based on the changes and prices that occur as buyers and sellers interact with the
market place
free enterprise helps make their decisions
free enterprise=competition between compilation
most countries have share characteris this makes them
mixed
nation state
a country with a government
communism
everyone is = and all property is comunoted owned
capitalism
everything is privately owned
supply and demand
amount of a prouduct
human resources
workers and there skills
