Economic Systems 6th Grade

Word that mean's "one's own country".

The percentage of increase for one year to the next is called _____________.

Economic decisions made by changes in prices as buyers and sellers interact in the market place.

Skills, knowledge, and education of workers

Someone who has an idea for a good or service and takes the risk to produce it.

Study of how choices are made to distribute resources to satisfy unlimited wants.

Factories, Machines, and Technology

Development of an increasingly worldwide economy.

When you focuses on producing the goods & services you make best & trading for what you don't have.

What is it called when you trade without using money?

All economic decisions are made by the government.

All economic decisions are based on customs, traditions, and beliefs of the past.

Voluntary exchange of goods and services among people and countries

An economy that is between a command and market.

A situation where there is unlimited demand but not enough supply of a good or service.

Raw materials from the Earth

Level of wealth and material comfort a country has.

Measures a nation's economic performance.