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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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287 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
Mixed Economy
Market Economy
Command Economy
Traditional Economy
2
Philosophy characterized by marketplace competition and private ownership of businesses.
Socialism
Communism
Mixed Economy
Capitalism
3
Rituals answer the questions. Based on religious practices and ideals
Traditional Economy
Command Economy
Mixed Economy
Market Economy
4
Difference between the wants and needs and available resources
Economy
Resources
Scarcity
Entrepreneurship
5
No government involvement in economic decision. Individuals and companies compete for consumers
Command Economy
Market Economy
Traditional Economy
Mixed Economy
6
People willing to invest their time and money to run a business
Economy
Scarcity
Resources
Entrepreneurship
7
Philosophy where government, controls production. No private ownership of property or capital.
Socialism
Capitalism
Communism
Mixed Economy
8
All the things used in producing goods and services
economy
factors of production
resources
entrepreneurship
9
Land, Labor, Capital, Entrepreneurship
resources
factors of production
entrepreneurship
economy
10
the organized way a nation provides for the needs and wants of its people
entrepreneurship
factors of production
economy
resources
