Economic system Flashcards
1
Q
scarcity
Nation state
communisom
A
The limited supply of something
2
Q
Economic systems
A
countries plan how to use llimited resources
3
Q
What are three basic economic questions
A
what how who
4
Q
Traditional economy
A
custumes traditions and belifes
5
Q
bartering
A
Trading without using money
6
Q
command economey
A
All economic power by goverment
7
Q
Nation state
A
country that is dangerous sometimes group
8
Q
communism
A
everyone is the same and all wealth and property are comunnialy around
9
Q
capitalism
A
industries are owned by private and meduales
10
Q
human resources
A
Humans and their skills
11
Q
supply & demand
A
The amount of product availabe and peoples willingness to buy the product
12
Q
A
