Economic Systems & Goals

Term that describes not having enough time and resources to satisfy their unlimited wants?

This economic systems includes free enterprise with some government control.

Goal described: Resources are not being wasted. Production of goods and services matches demand.

Command Economy Values What Goal?

Market Economy Values What Goal?

Goal described: Good and services we count on are there when we want them. Predictable prices Electricity on demand...

Goal described: Consumers to decide how to spend or save their income. Freedom to choose and change jobs.

What are the 3 basic economic systems?

Goal described: The increase in the production of goods and services over time.

Traditional Economy Values What Goal?

Which economic system is based on customs of the past?

The government controls all aspects of the economy in which system?

Goal described: What is fair? Policies are evaluated in terms of what people think is right and wrong.

Producers and consumers make all the economic decisions in which economic system?

What are the 3 economic questions societies try to answer?

Which system is a combination of the 3 primary economic systems and is the most-used today?

Goal described: Citizens protected against economic risks. Governments can also protect citizens through programs.