Economic Systems

A renewable resource is 

nonrenewable resources...

Workers with appropriate skills and knowledge to make goods or services. 

Countries like North Korea or Cuba have what type of economic system?

Test Friday pending snow days!!!

In a ___ economy social rules and culture determine the goods and services that are produced.  

Any tangible product which may be sold to a consumer or another industry.

The production, distribution, and consumption of goods and services. 

A resource that is not created by people.

Tribal type groups have what type of economic system?

The way that societies turn resources into goods and services is called...

An economy in which the government decides how many of which goods are produced and sets prices

If you can use something for one thing, then you cannot use it for something else it is called 

The Communist philosophy closely relates to 

Countries like The United States, Canada and Japan have what type of economic system?

Which answer is not a type of economic system...

The Socialist philosophy closely relates to 

A Long lasting item, usually more expensive items, used by businesses.

In this economy the market determines what goods and services are produced

The Capitalist philosophy closely relates to