Economic Systems Flashcards
1
Q
scarcity
A
the limited supply of something
2
Q
nation-state
A
that is homogenours same etnnic group
3
Q
communism
A
everyone is the same and all weath and probertyband communany owend
4
Q
capitalism
A
industnes are owend by private indmduals no govnment interference
5
Q
human resource
A
you. person and their skills
6
Q
supply and demand
A
supply refers to the markets abity to produce a good or service where as demand refers to the markets desire
7
Q
A
