Economic Systems

Which system is a combination of the 3 primary economic systems and is the most-used today?

Producers and consumers make all the economic decisions in which economic system?

The rate at which one currency is worth in comparison to another's is

A person who takes the risk to start their own business is called

The 3 questions that must be answered by the economic system are

Which economic system is based on customs of the past?

A formal halt to trade between nations is called

Exchanging goods and services so that both parties benefit is called

Producing goods and services efficiently at the lowest cost is called

The government controls all aspects of the economy in which system?

What are the 3 basic economic systems?

This economic systems includes free enterprise with some government control.

A tax on goods coming into the country is called

Health insurance, employee day care, and training are investments in

The total cost of goods and service produced in a year is called

A limit on foreign goods coming into the country is called