Third Nine Weeks Review Part II

One of these defines free market

Who is this family ?

What do you call the process of combining resources to produce goods and services?

This type of business organization can act as a legal being if sued in court

This economic system is where you find ownership of business and profit

Rivalry between producers which results in better quality goods andservices at a lower price.

Who makes decisions for the private sector in a mixed economy?

Supply and demand determine

Ringoe's is what type of economic business ?

This means you can decide where to shop and what to purchase

Scarcity is demonstrated by one example below:

Where do local governments in Virginia get their power?