world Flashcards
1
Q
Some private and government ownership of businesses
A
Mixed Economy
2
Q
In short supply
A
Scarcity
3
Q
Free enterprise/capitalism/laws of supply & demand
A
Market Economy
4
Q
Depends on agriculture, fishing, hunting, gathering; use barter system
A
Traditional Economy
5
Q
Relationship between quantity of product to be sold and amount consumers buy.
A
Supply & Demand
6
Q
Create economic ties/trade with European nations
A
European Union
7
Q
Economies that are impacted by economic decisions of other nations
A
Interdependence
