Economics Vocabulary and Concepts-CE 11&12ab

In a mixed economy, gov't involvement is greater that free market and less than in a command.

rivalry between producers and sellers of a good or service

The US is a command economy.

All of the following are characteristics of a market economy except:

capital resource that Zac Hughes will need when he opens up his paper football gameroom?

Aaliyah, Ivy, and Jillian opened up a beauty salon.

Government is owner/decision maker for public sector. Individuals are for the private sector.

factors of production that are used to produce goods and services

My husband needs tractors for his business which are what type of resource?

Noah wants a car.  What do you call the amount of money he will have to spend?

I plan on eating an entire container of Ben and Jerry's ice cream tonight by myself.

Lina has to select whether she wants to go to college or work.

There is VERY little government involvement in this economy.

amount of goods and services consumers are willing and able to buy

My husband will be unable to purchase everything on  my wishlist  because we can't afford it?

Everyone who passes their SOL test will receive a 100, a pat on the back and chocolate.

100% of my 1/2 block not only wants to see Adele but will see her when she comes to town

What does the interaction between supply and demand decide?

Darrick took the risk and opened up a clothing store.

Characteristic of US economy

Wyatt buys spongebob squarepants pjs instead of a One Direction CD.  What represents the CD?

There is a complete lack of consumer choice in this economy.

Economic decisions are based on customs and historical precedent

James wants to know how much that twinkie costs.

resources, good/services, and money flow among houses, businesses, and the government

Colin has a high supply of lemonade at his stand and demand is low, the price will

process of hiring employees, buying equipment, etc in order to start my business

Government runs the show.

Most economies today are what kind of economies?