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objective 101

Economic systems

TermDefinition
Capital Resourccs Good and money used in the production of goods and services
Command economy Economics system in which the government owns and dictates what is produced
Competitors Businesses that offer the same goods to the same customers
Consumer Buys and uses the good and services
Economic decision-making process of choosing which needs or want will be satisfied
Economic resources Means from which goods and services are produced
Economics Study of the decisions made for production,distribution,and consumption of goods and services to satisfy need and wants
Created by: 12189234
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