FREE Market
FREE Markets are known for little to no ________ involvement
What is "Government"?
MIXED Economies are known for taking parts of ______ economy and _______ market
COMMAND Economies are known for ______ government control
What is "total" or "full"?
TRADITIONAL Economies are known for people who need to _______ to get food, water, clothes and other resources.
What is "gather" or "find" or "go get" or "trade"?
What you need to exchange for a good or service...
What is "Price"?
Why are they called FREE Markets?
What is "freedom" or "no government" or "you can do what you want with money/jobs/resources"?
Why are they called MIXED Economies?
Why are they called COMMAND Economies?
What is "the government COMMANDS the economy (money, jobs, resources, etc.)"?
Why are they called TRADITIONAL Economies?
What you DO NOT choose...
What is "Opportunity Cost"?
In a FREE Market, you have a lot of ______
(HINT: one of our vocabulary words)
What is "choice"?
Who controls the Public sector?
(Think about building roads, schools or hospitals)
What is "government"?
In a COMMAND Economy, we (consumers) have NO choice. The government controls and picks usually only ______ brand/product
What is "One"?
In a TRADITIONAL Economy, instead of buying, people can ______
(HINT: They cant find it, so they need to find another way)
What is "Trade"?
When we use a good or service...
What is "Consumption"?
Consumer is ______
What is "King"?
Who controls the Private sector?
(Think about your family at home and who "controls" that)
What is "Individuals" or "me" or "the consumer"?
FREE POINTs if you can tell me...
Where is Mr. Simon from?
What is "Delaware"?
Where did Mr. Simon go to College?
What is "Penn State"?
Not enough to satisfy everyone...
What is "Scarcity"?
Name an example of a FREE Market?
What is "Hong Kong" or "Singapore"?
Name an example of a country that is a MIXED Economy?
What is "most countries"?
Name an example of a country that is a COMMAND Economy.
What is "China" or north Korea" or Cuba" or "other communist country"?
Name an example of a TRADITIONAL Economy.
What is "old civilizations" or "Inuit's" or "Minecraft/Moana"?
How many people want a good /service at a certain time...
How much we have (resources or goods/services)...
What is "Demand"?
What is "Supply"?