Economic Systems Flashcards

1

In this economic system the people have total power in deciding jobs, goods, and services.

2

An example of a scarce resource is

3

Doing a job in exchange for a product is an example of

4

Limitations on resources is referred to as

5

Supply and demand determine what is produced

6

Which combination makes a mixed economy?

7

Goods are produced in the least costly method in order to get hightest profit

8

There is not much waste because people only take what they need

9

Government has total control over what goods are made in what economic system?

10

Trading goods without money is referred to as

Economic Systems