Business Principles Ch 1-2

What a nation will produce is determined by its

How a nation will produce the goods and services is partially determined by

Which of the following is not a principle of the U.S. economy

Economic system where the resources are owned and controlled by the people.

Economic system where the resources are owned and controlled by the government.

Quantity of a good or service that a business is willing to provide

Which of the following is not 1 of the 3 questions that a country has to ask itself:

Economy where goods and services are produced the same way that they have always been produced

Quantity of a good or service that consumers are willing to buy