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Economic SouthWest

Vocabulary for Economic of the middle east south asia test

QuestionAnswerQuestionAnswer
All resources are collectvely owned and directed by the family/village for their personal consumption (use) Traditional Economy
And economy that is a combination of command, market, and traditional. Mixed Economy
Person who risks capital (money) to produce a good or service. Entrepreneur
The investing of money or capital in order to gain profitable returns, as interest, income, or appreciation value Investment
The exchange of goods and services for others Barter
Restrictions on the amount of gooods that can be imported into a country Quota
Way a nation makes economic choiceds about how resources will be used, produced, and distibuted Economy
Resources are based on the individual and they make their decisions Market Economy
Created by: glitter12
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