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Marketing essentials Chapter 3 Flashcards | StudBud
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Marketing essentials Chapter 3
Marketing essentials Chapter 3
10 terms
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StudBud Administration
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182 plays
economics socialism, communism, capitalism
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
A country’s government makes economic decisions
Command Economy
Traditional Economy
Mixed Economy
Market Economy
2
Philosophy characterized by marketplace competition and private ownership of businesses.
Communism
Socialism
Capitalism
Mixed Economy
3
All the things used in producing goods and services
factors of production
entrepreneurship
economy
resources
4
Land, Labor, Capital, Entrepreneurship
resources
entrepreneurship
factors of production
economy
5
the organized way a nation provides for the needs and wants of its people
resources
economy
entrepreneurship
factors of production
6
Rituals answer the questions. Based on religious practices and ideals
Mixed Economy
Command Economy
Traditional Economy
Market Economy
7
No government involvement in economic decision. Individuals and companies compete for consumers
Mixed Economy
Market Economy
Command Economy
Traditional Economy
8
People willing to invest their time and money to run a business
Economy
Scarcity
Entrepreneurship
Resources
9
Difference between the wants and needs and available resources
Scarcity
Economy
Entrepreneurship
Resources
10
Philosophy where government, controls production. No private ownership of property or capital.
Mixed Economy
Capitalism
Communism
Socialism
