An economy that operates by a voluntary exchange in a free market and is not planned or controlled by a central authority.
What is market economy?
100
Gross Domestic Product.
What is GDP?
100
A person who buys and uses products.
What is a consumer?
100
Items that can be seen or touched.
What are goods?
200
The system or range of economic activity in a country, region, or community.
What is economy?
200
An economy that is planned and controlled by a central administration.
What is command?
200
$16.8 trillion.
What is the GDP of the US?
200
Someone who makes and sells goods to meet the needs of buyers.
What is a producer?
200
Intangeble products.
What are services?
300
Any of various theories or system of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
What is socialism?
300
An economic system that allows for the simultaneous that is publicly and privately owned enterprises.
What is mixed economy?
300
$4.028 billion.
What is the GDP of Fiji?
300
The producers have enough supplies to meet the needs of consumers' demand.
What is supply and demand?
300
Bread.
What is an example of a good?
400
A person who organizes and operates a business(s) talking on greater than normal financial risks in order to do so.
What are entrepreneurs?
400
A system in which private businesses are able to compete with each other with little control by the government.
What is free enterprise?
400
$1.827 trillion.
What is the GDP Canada?
400
The direct trading of goods and services without the use of money.
What is bartering?
400
Carwash.
What is an example of a service?
500
Also called a free market economy production is privately owned and is guided through the operation of markets.
What is capitalism?
500
A system of government in which a state plans and controls the economic system.