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History Quiz 2.2

TermDefinition
Scarcity Lack of resource
Supply Is the amount of a goods and service that producers want to sell
Demand Is the amount of something that customers wants to buy
Capital is money and goods used to help people make or do things
entrepreneurship is the act of running a business and taking on the risk of that business
Market economy each person, or individual makes choices about what to make, sell and buy
command economy a central government that desires what goods will be made and who will receive them
mixed economy the government has same control over what and how much is made
traditional economy is based on a costume economy
Technology the use of advanced methods to solve promblems
free market when buyers chosenly makes or sell anything
Created by: bobby.r
Popular Economics sets

 

 



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