Economic system

Question 1

what does scarcity mean

Answer 1

the limited supply of something

Question 2

what are the 3 basic economic questions

Answer 2

1)tutinal
2) commend
3)market

Question 3

what are the dicionce are baced on

Answer 3

constone,tordish,and believes

Question 4

battering

Answer 4

traidening without using money

Question 5

what is command economy

Answer 5

all decisions are made by the government

Question 6

what is market economy

Answer 6

economy dicisions are made based on the changes in price that ocures as buyers and sellers interact in the market place

Question 7

most democracy contrease have some charicteristicse of both systems so we keep it simple and call them …..

Answer 7

mixed

Question 8

what is the lowest the econamic continium

Answer 8

north korea

Question 9

nation state

Answer 9

country with a government

Question 10

communism

Answer 10

everyone is equal and all property’s is communities owned

Question 11

capitalism

Answer 11

everything is private owned and ruled by free compertiton

Question 12

human resources

Answer 12

workers and their skills

Answer 13

amount of product and people willingness or ability and perpouse