Econ SOL Review 1

The process of using goods and services is referred to as ____.

People must make economic choices because resources, goods and services are all ____.

Economies that are built on the marketing of goods and services of traditions are ___

The two factors in determining WHAT will be produced for consumers are ___.

Mixed market economies, like that of the USA, thrive because of entrepreneurs and

Consumers decide WHAT will be made based on our purchases. We are like a king! This is __.

Economics is the study of how people and governments earn, spend and use ____ and money.

Price is determined by ___

All but which one of the following describes the Command Market?

The minimum necessary government action that is in place to protect US consumers is known as __

The amount of money exchanged for a good or service is called ___.

The four major economic markets are all but which one?