Introduction to Business Unit 1

Which type of economy is usually centered mainly on meeting people's basic needs?

What are people producing goods and services called?

Which is another name for the economic system in the United States?

What is the first step to the decision-making process?

What are goods?

If everybody had an unlimited supply which would not exist?

A government that assigns people specific jobs and careers is called which type of economy?

What happens when prices increase?

The rivalry among businesses to sell their goods and services is known as?

What is the final step of the decision-making process?

What is it called when you can own anything as long as it doesn't violate the law in the US?

Who is the largest producer of goods and services in the world?