Duplicate of ECONOMIC UNDERSTANDINGS

Most democratic countries have this kind of economic sysytem

Which economic system is when the government controls production of goods/services? Ex: Cuba

A mixed economy has characteristics of both a command economy and a market economy.

When business owners who risk everything because they believe their business ideas will make $

Which economic system is based off customs, traditions, and beliefs? Ex: the Aborigines

The factories, machines, technologies,buildings, and property needed by businesses to operate.

In this economy, people have the most freedom to buy & sell goods & services. 

Which factor of production is considered "gifts of nature"?

Which of the following is NOT one of the three basic economic questions?

Which country has the most economic freedom to buy & sell goods and services?

which country has the least economic freedom to buy and sell goods and services?

Private business owners determine what goods/services are produced and how they will be made.

Which of the following countries have little to no economic freedom? Ex: command economy

In traditional economy, trading goods and services without the use of money called...

The economic worth of all goods and services produced in a country? How rich/poor a country is.

Training&skills that make it possible for workers to earn a living producing goods & services.

What is the root of economics? Ex: a limited supply of something