Economic Systems Flashcards
1
Q
scarcity
A
the limited supply of something
2
Q
three economic questions
A
what goods or sevices will be produced
3
Q
bartering
A
trading without using money
4
Q
nation state
A
country
5
Q
communism
A
a sociity where everyone owns everything
6
Q
capatalism
A
there is no goverment control
7
Q
human resourse
A
a person with there skills
8
Q
supply and demand
A
amounts of a prouduct avalible
9
Q
command economic
A
gov hass all control
10
Q
market economicly
A
people have full control
11
Q
free enterprize
A
2 companies competing
12
Q
mixed ecomicly
A
almos all of the goverment today
13
Q
economic contiunum
A
how free a place is
14
Q
traditinal economicly
A
your family buisness
