Economy Flashcards
1
Q
Economic decisions based on customs, traditions and beliefs
A
Traditional Economy
2
Q
all choices are made by the government and its not really successful
A
Command Economy
3
Q
No government no nothing it is terrible because there is no government to see if food is safe
A
Market Economy
4
Q
Basically every country has this Economy it is command and market combined
A
Mixed Economy
5
Q
This is when you trade an item for another item
A
Bartering
6
Q
This is when and item is hard to get
A
Scarcity
7
Q
Private businesses operate with less state control
A
Free enterprise
8
Q
An Economy that
A
Capitalism
