Economics in the World

Bartering is...

________, or a low supply of something, will often result in price increases.

How many types of economic systems are there?

In a _______, the government makes all the economic decisions

This is the system that the majority of the world uses, including the USA.

A special price or reward given to encourage customers to buy a product.

If the ________ for an item is low, the price will likely decrease.

In a command economy, who makes the economic decisions?

The price of an item will increase if the ________ is low.

Which situation would increase the demand for sweatshirts and therefore increase the price?

After buying the marker for $20, I made a $10 ________ when I sold it for $30.

Not having enough of something.

________ is the study of the making, buying, and selling of goods and services.