ECONOMICS Flashcards
1
Q
Economic system
A
Is a way that people in a society work together
2
Q
traditional economy
A
there is no government control
3
Q
market economy
A
you have your own business
4
Q
command economy
A
government owns regulates all aspects
5
Q
mixed economy
A
is a common system in many country’s
6
Q
communism
A
government regulates all aspects of economy
7
Q
sociative
A
government owned some parts of the economy
8
Q
capitalism
A
individuals and business owners everything
9
Q
human resources
A
people who work for themselves
10
Q
scarcity
A
people who need or want some thing
11
Q
goods and resources
A
some thing that people need
12
Q
supple and demand
A
you name a price and you ask for some thing
