economy systems

Question 1

all econ. decisions are based on customs, traditions, and beliefs

Answer 1

traditional econ.

Question 2

all econ. decisions are made by the government

Answer 2

command econ.

Question 3

all econ. decisions are based on supply and demand

Answer 3

market econ.

Question 4

econ. decisions are made by supply and demand, but with rules and regulations

Answer 4

mixed econ.

Question 5

the limited supply of something

Answer 5

scarcity

Question 6

trading without using money

Answer 6

bartering

Question 7

competition between companies

Answer 7

free enterprise

Question 8

private ownership of property and resources

Answer 8

capitalism

Question 9

public ownership of property and resources

Answer 9

socialism

Question 10

the amount of specific goods that are available/people want to buy

Answer 10

supply/demand

Question 11

the set of people who make up the workforce of an organization

Answer 11

human resources

Question 12

what are the three basic economic questions?

Answer 12

what, who, and how

Question 13

in a command economy, who makes all of the decisions?

Answer 13

the government

Question 14

most countries are what type of economy?

Answer 14

mixed