Show:
Vocabulary
Factors of Prod.
Other Systems
Trade
Supply/demand
100
The rivalry among businesses to sell goods to customers and make the greatest profit?
What is competition
100
Are the people who bring natural resources, labor resources, capital resources together to produce goods and services?
What is enterpreneurs
100
What are fast and dependable, and making trade easier among countries?
What is Communication and transportation
100
Sometimes countries establish barriers to restrict trade because they prefere to produce there own ...
What is goods and services
100
The seller, like all entrepreneurs, wants to.
What is increase profit
200
Is the money that remains after all the costs of producing a product that have been paid?
What is Profit
200
Machines, factories and supplies that are needed?
What is Capital Resources
200
How goods and services are produced?
What is Traditional economies
200
imported goods , raise the price to the consumer and make it more difficult for other countries to compete.
What is tariffs or taxes
200
How products are distributed to consumers.
What is prices affect
300
A person who uses goods and services?
What is Consumer
300
Workers are needed with the appropriate knowledge, skills, and experience to make goods or provide services?
What is Labor Resources
300
Expanding trade can open new markets, keep prices low...
What is quality high for customers
300
Can others support free trade.
What is yes
300
The number of product offered at each price is the.
What is supply
400
Is a market with little government interference?
What is Free enterprise/market economy
400
Raw materials are used to make goods?
What is Natural Resources
400
The government decides how many of which goods are produced and set prices.
What is command economy?
400
Do other countries work to reduce trade barriers.
What is yes
400
In a free enterprise many businesses produce similar.
What is Goods and services.
500
A way to measure a countrys economy?
What is GDP
500
Are the ingredients or elements needed for production to occur?
What is Factors of Production
500
Although more countries then ever have market economies some countries have.
What is command and traditional economies
500
To make a greater profit a company may offer an improved product, manufacture it more cheaply, or..
What is sell it at a better price