Economics Review

a person who makes and/or sells goods and services

The amount of wealth and material comfort available to a person or community

work that someone does for someone else in exchange for pay

The total amount of goods and services produced in a country in a year.

an item that is made or grown by humans to be sold

an economic system that is a blend of a market and command economies

when citizens, businesses, or countries buy, sell, and exchange goods and services

The wealth and resources of a country or region

a person who buys and uses goods and services

A good or a service brought into a country from another is a:

The process of the world becoming more interdependent in the economy, trade, tech, and communications

The amount of money an average person makes in a country in a year.

Rivalry between businesses

an economic system where private owners have the main control of trade and business

How much of a good or service people want:

Which country is an example of a command economy?

a good or service sent to another country for profit

money that is used in a particular country

an economic system in which traditions and culture shapes the economy; consists of a lot of bartering and trading

A tax placed on imported goods or services:

Which of the following is an example of a natural resource?

how much of a good/service is available

an economic system where the government has control of trade and business

Which country is the best example of a mixed economy, according to your study guide?