Economic Systems Flashcards by Boston Zimmerman | Brainscape

Q

scarcity

A

the limited supply of something

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Q

three economic questions

A

what goods or sevices will be produced

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Q

bartering

A

trading without using money

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Q

nation state

A

country

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Q

communism

A

a sociity where everyone owns everything

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Q

capatalism

A

there is no goverment control

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Q

human resourse

A

a person with there skills

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Q

supply and demand

A

amounts of a prouduct avalible

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Q

command economic

A

gov hass all control

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Q

market economicly

A

people have full control

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Q

free enterprize

A

2 companies competing

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Q

mixed ecomicly

A

almos all of the goverment today

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Q

economic contiunum

A

how free a place is

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Q

traditinal economicly

A

your family buisness

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