Economic Systems

A tractor, a desk, a sewing machine, a hammer. These are examples of

pressure or a penalty to get a country to abide by rules and policies might involve a

Ketchup, clothing, volleyballs, cars....... these can all be

Having only enough to survive

Money paid to purchase new books so that students can learn better is an example of a(n)

The UN has forbidden arms to be imported from Africa. This is an example of a

Tate only allows 20 shirts to be imported from Jasper. This is a

Can not be produced in unlimited supply

Entrepreneurs would not survive in this type of economic system

Property and resources are owned by _______ in a market economy

total market value of all goods and services in a country in a year

A haircut or a root canal is an example of a

Economic system based on the decisions of the government alone

focus on producing items that one is good at making

Someone taking a risk to open a business is a(n)

The local McDonalds was recently demolished and a new one was built. This is an investment in

Economic system that is based on experiences of the past

used to buy goods and services

Lucyville placed a high tax on foreign grown grapes hoping to sell more local grapes. This is a

Man-made things used to get the job done

Economic system based on supply and demand

Bridges, Railroads, Water Plants, Dams, Power Plants are all examples of a country's

People working together to produce goods or services

Consumers are better fitted for this type of economic system