economic systems Flashcards
1
Q
scarcity
A
the limited supply of something
2
Q
nation state
A
country
3
Q
communism
A
a society where everyone owns everything government distributes wealth
4
Q
capitalism
A
private citizens own all means of production no government control
5
Q
human resource
A
you
6
Q
supply and demand
A
amount of a product available and people willing to purchase a product
7
Q
A
8
Q
A
9
Q
A
