Economic Systems Flashcards

1

Resources are owned and controlled by the government

2

Made up of mostly farmers and hunter-gathers

3

A item for sell that becomes popular with consumers creates a high

4

Items that a business owner stocks of shelves in a store

5

Resources are owned and controlled by private individuals and business

6

Two or more countries that depend on each other

7

One country selling and buying products with another country is called

8

What is the total value of goods and services produced in a country during a year?

9

Goals are economic freedom and individual profit

10

High demand with low supply leads to

Economic Systems