economics

Question 1

is the way people in society work together to make and trade things

Answer 1

economic system

Question 2

is the people who own the businesses instead of the government

Answer 2

market economy

Question 3

have different levels of government

Answer 3

mixed economy

Question 4

the government owns and regulates all aspects of the economy

Answer 4

communism

Question 5

people who work to produce a good or service

Answer 5

human resources

Question 6

a limited supply

Answer 6

scarcity

Question 7

amount of goods/demand how many people want it

Answer 7

supply and demand

Question 8

objects that satisfy people’s wants service that satisfy people for doing things

Answer 8

goods and services

Question 9

the government owns businesses

Answer 9

socialism

Question 10

there is no government control so people run businesses but still have to follow certain laws

Answer 10

traditional economy

Question 11

when people run businesses instead of the government

Answer 11

capitalism

Question 12

when the government or a single person make the dissuisions

Answer 12

command economy