The private ownership of economic resources by individuals rather than by the Government.
Intro to Business

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Business, Social Studies
•
9th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Capitalism
2.
FLASHCARD QUESTION
Front
An Economy in which resources are owned and controlled by the Government.
Back
Command Economy
3.
FLASHCARD QUESTION
Front
A person who buys and uses goods and services.
Back
Consumer
4.
FLASHCARD QUESTION
Front
The quantity of a good or service that consumers are willing and able to buy.
Back
Demand
5.
FLASHCARD QUESTION
Front
The process of choosing which needs and wants will be satisfied.
Back
Economic Decision Making
6.
FLASHCARD QUESTION
Front
Things available to be used to produce goods and services.
Back
Economic Resources
7.
FLASHCARD QUESTION
Front
The method a country uses to answer the three Economic questions.
Back
Economic System
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