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Econmic systems

questions answer what is produced how,and why
traditional economy ware you own the resources and keep the profits
command government decides what goods are made and how they are made
bartering exchange of one good or service for another
economy soical science that deals the production of a service
market economy based on free enter pries
capitalism economy in which people control products, profits,and goods
how many have pure markets 0 have that type of economy
supply how much people have avalible
demand what or how much people want
mixed economy you have the power to make your own business but there is requirements by the government
gdp amount of money the country make a year
standard livining how well people
literacy rate how many can read and write
specialization making money off of what you do best
currency money
exchange rate how much currency is worth based on the terms of anouther
natural reasoures items found in nature
capital goods items you need to do your job
human reasores employes
entupernuer who takes a risk of losing money by starting a company
two examples of capital goods computer,lawnmower
three ways to invest in human capital providing education,health, and training
tariff a tax on imported goods
quota a limit on how many goods can be traded
embargo a band on goods
Created by: cool03



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