CC 5 - Economics - My World Geography -

How many questions were on yesterdays test?

people/businesses that buy good or services

the price for borrowing money; % you pay back to the bank

the DEsire for a certain good or service

amount of goods and services produced given the amount of services

removal of 'trade' barrier

an economy which combines elements of traditional, market, and command economic systems

a share of ownership in a company

Which describes the type of buying and selling that takes "within" a country

an economy in which the central government makes ALL economic decisions

a country with a strong economy and high standard of living

goods and services made within a country but sold outside the country's borders

a decline in economic growth

an organized way for producers and consumers to trade goods and services

the amount of a certain good or service

people/businesses that make and sell products

the exchange of goods or services

a factor that encourages people to act in a certain way, Number 1 on your test yesterday

Which type of economic system has the highest level of government control?

an economy in which people make economic decisions based off their customs and habits

an economy in which individual consumers and producers make economic decisions

a plan that shows income expenses and expenses over a period of time

a country with a less-productive economy and lower standards of living

a restriction or government policy that limits international trade

having limited quantity of something

Which of the following are ways to increase economic development?

money earned by selling goods or services

a general increase in prices

money a company has left after subtracting the cost of doing business

The study of how people meet their wants and needs

goods and services sold inside a country that are produced in another country