Different Economies
An economic system where people provide services and make goods the same way their ancestors did
What is a Traditional Economy?
The amount of something that is available
What is Supply?
an economic system where people and businesses make most economic decisions instead of the government.
What is a Market Economy?
The number of consumers who want something
What is Demand?
an economic system that combines parts of a market economy and a command economy. People and businesses can make many economic choices. The government also helps control some parts of the economy.
What is a Mixed Economy?
Someone who acquires goods and services for his or her own personal use.
What is Consumer?
An economic system where a central authority controls all major decisions regarding the production,pricing, and distribution of goods and services
What is a Command Economy?
The benefit you give up by choosing to do one thing instead another.
What is Opportunity cost?
The four types of economies
What is Traditional Economy, Command Economy, Market Economy, and Mixed Economy?
The thing that motivates you to do something
What is Incentive?