SBV list 6-2 Word Scramble
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Question | Answer |
command economy | AN economic system in which all decisions on production and consumption are made by a central government. |
division of labor | The separation of the total work required to produce a good or service into individual interrelated tasks |
gross domestic product | The value of all final goods and services produced within a country's borders in a given year. |
imperialism | A policy used by strong countries to gain social, political and economic control over foreign territories |
marginal cost | The change in total cost resulting from a n action. |
market economy | An economic system in which decisions on production and consumptions are made by individuals acting as buyers and sellers. |
producer | A person who makes goods and services. |
regressive tax | A tax for which the percentage of income paid decreases as income increases |
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