Econ Chapter 2 Vocab Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Word | Definition |
Market Economy | people and firms act in their own best interest to answer the WHAT, HOW, and FOR WHOM questions. |
Command Economy | central authority makes most of the WHAT, HOW, or FOR WHOM decisions |
Economic System | an organized way of providing for the wants and needs of their people |
Social Security | a federal program of disability and retirement benefits that covers most working people |
Inflation | a rise in the general level of prices |
Fixed Income | income that does not increase even though prices go up |
Traditional Economy | the allocation of scarce resources, and almost all of the economic activity stems from ritual, habit, or custom |
Created by:
SEN10Rof2010
Popular Miscellaneous sets