economic system. Flashcards
1
Q
scarcity
A
supply of something
2
Q
what are the three economic
A
3
Q
all economic decisons are based on
A
customs,
4
Q
bartering
A
trading without using money
5
Q
A
market place
6
Q
all economic decisions are made by the
A
government
7
Q
free enterprise
A
competition between companies
8
Q
most democratic countries have some characteristics of both systems ,so we keep it simple and call them
A
mixed
9
Q
how free a country is on a scale of a 100
A
10
Q
nation state
A
country that is ethically/racially the same .
11
Q
communism
A
system in which everyone shares wealth
12
Q
capitalism
A
industry controlled by the private ,no government inerference
13
Q
human resorces
A
a person and their skills.you!!!!!!
14
Q
supply and demand
A
amount products available and people willingness to buy the product .
15
Q
A
