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Economies 9 SS
Mixed and Market Economies
Term | Definition |
---|---|
Economic System | Economic systems are the means by which countries and governments distribute resources and trade goods and services. |
Scarcity | Scarcity is the fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources. |
Shift Left | |
Shift Right | |
Consumers | |
Demand | |
Economy | |
Privately Owned | |
Producers | |
Supply | |
Labour Union |