Duplicate of Economics Vocabulary Review

Which of the following is NOT one of the three basic economic questions?

which country has the least economic freedom to buy and sell goods and services?

Which economic system is when the government controls production of goods/services? Ex: Cuba

In this economy, people have the most freedom to buy & sell goods & services. 

Which economic system is based off customs, traditions, and beliefs? Ex: the Aborigines

Most democratic countries have this kind of economic sysytem

In traditional economy, trading goods and services without the use of money called...

Training & skills that make it possible for workers to earn a livingproducing goods & services.

The factories, machines, technologies,buildings, and property needed by businesses to operate.

Which factor of production is considered "gifts of nature"?

When business owners who risk everything because they believe their business ideas will make $

Which of the following countries have little to no economic freedom? Ex: command economy

A mixed economy has characteristics of both a command economy and a market economy.

The economic worth of all goods and services produced in a country? How rich/poor a country is.

Which country has the most economic freedom to buy & sell goods and services?

Private business owners determine what goods/services are produced and how they will be made.

What is the root of economics? Ex: a limited supply of something