ECONOMIC SYSTEMS
What Economy relies on barter or simple trade, often found in rural or tribal communities, and use little to no use of modern technology?
What is TRADITIONAL ECONOMY?
What category do soil, water, nutrients, plants, farmers fall under?
What is LAND
Things bought through online platforms, often involving targeted ads and algorithms.
What is ONLINE CONSUMERISM
This is an arrangement that brings buyers and sellers together to do business with each other.
What is the MARKET
What Economy is government owned and controls major industries, little to no consumer choice, and prices and production are centrally planned.
What is COMMAND ECONOMY?
What category do farmers, machine users, employees fall under?
What is LABOR
Buying products spontaneously without planning or consideration of need.
What is IMPULSE CONSUMERISM
the resources used to produce goods and services. Land, labor, capital and entrepreneurship.
What is THE FACTORS OF PRODUCTION
What Economy is when businesses and consumers make decisions freely, competition drives innovation and efficiency, and prices are determined by the market?
What is MARKET ECONOMY
What category do non-human resources. Ex. machines, buildings fall under?
What is CAPITAL
Choosing products based on ethical values like sustainability, fair trade, animal welfare, and labor practices.
What is ETHICAL CONSUMERISM
Adam Smith’s metaphor to explain how an individual’s pursuit of economic self-interest can promote the well-being of society as a whole.
What is THE INVISIBLE HAND
What economic system does Former Soviet Union and North Korea have?
What do bosses and companies fall under?
What is ENTREPRENUERSHIP
Driven by compulsive or addictive behaviors.
What is ADDICTIVE COMSUMERISM
Anything used to produce an economic good or service.
What is RESOUCRE