Economic Systems
The four economic systems
What is Traditional, Market, Command, Mixed?
Product received from other countries and product sold to other countries
What is import and export?
Three questions to help define the type economic system
What is what should be produced, how it should be produced, and how it should be distributed?
Economic interdependence
What is renewable, and nonrenewable resources?
Trade is effected by
What are differences in labor costs and education?
Factors of production
What is labor, capital, land, entrepreneurship?
What is outsourcing?
Four types of economic activities
The causes of globalization
What are improvements in communication and transportation of products