Economics - Basics Flashcards

1

Customs and bartering defines this economic system

2

In this economic system there is a lack of consumer choice.

3

An economy is based on the demands of the consumers is which type of system?

4

If a country invests in human capital, what is likely to happen to its GDP?

5

Entrepreneurs are valued in this type of economic system

6

There is minimal government involvement in this type of economic system.

7

In this economy, individuals, businesses, and government makes decisions for the private sector

8

What is true about an entrepreneur? He or she:

Economics - Basics