Econmic Systems
Econmic Systems
How Economy Works
How Economy Works
Bonus Questions
100
this is the organized way a nation provides for the needs and wants of its people.
What is economy
100
what are all things used in producing goods and services.
What is resources
100
what are the four types of economy
What is traditional, market, command, and mixed
100
a political and econmic philosophy characterized by marketplace competition and private onwership of business
What is capitilism
100
the difference between wants and needs and available resources.
What is sarcity
200
a nation chooses how to use its resources _____ goods and services
to produce and distribute
200
economist use the term _________ when they talk about resources
What is factors of production
200
in what type of economy does traditons and rituals answer the basic questions of what how and for whom
What is traditonal
200
a social political and economic philosophy in which the goverment usually authoritarian controls the factors of production
What is communism
200
what companies has Great Britian sold so far ?
What is national phone company, national steel company, national sugar company, and serveral others
300
what are manufacturing, buying, selling, transporting, and investing.
What is econmic activities
300
this includes everthing found in the earth and seas, erfers to all the people who work, refers to skills of people who are willing to invest their time and money to run a business, includess money used to start and operate a business
What is land, labor,entreprenuership and capital
300
in what type of economy is there no goverment involovment in economic decisions
What is market
300
a term that originally referred to a system on its way to the communist ideal of classless society
What is socialism
300
an economy that is mostly poor countries with little industrilization that are trying to become more prosperous and develope theior infrastruture
What is developing economy
400
contries with different economic system have different_____ when making choices
What is approaches
400
refers to skills of people who are willing to invest their time and money to run a business, includess money used to start and operate a business
What is entreprenuership and capital
400
a system in which a country's goverment makes economic decisions and decides what when and how much will be produced and distributed
What is command
400
a process that generates much needed revenuefort he goverments invovled and demostrates a high level of commitment to making the transition to a market system
What is economies in transition
400
what is the political system most frequently associated with capitalism
What is democracy
500
what is this chapter about
What is political and economic analysis
500
capital includes ____ which is the physical developement of a counrty. this includes its roads, ports, sanitation facilities, and utilities, especially telecommunications
What is infrastructure
500
an ecnomy that is not purely traditional market or command. the united states has this type of enconomy!
What is mixed
500
why are many businesses selling some of their state-run businesses?
to help balance their budgets as the copst of national health care unemployment and retirement programs soar.
500
in a socialist country would medicare & education be high costing or low costing
What is low costing because indivisuals pay much higher taxesthan those in a captilist country
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