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Front

In this type of economy, the people decide the supply, demand, and price.

Back

Market

Front

Which type of economy has central ownership, the government, and lack of individual choice?

Back

Command

Front

Capitalism is in what type of economy?

Back

Market

Front

This means that the government should not interfere in the marketplace.

Back

Laissez Faire

Front

When customers and business owners exchange products and money, because it will help them both in some way.

Back

voluntary exchange

Front

The amount of money a business makes after its expenses are paid

Back

profit

Front

Focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively.

Back

specialization

Front

The development of a worldwide economy where resources flow fairly freely across borders.

Back

Globalization

Front

Buyers choose what items are produced based on their spending habits

Back

Consumer Sovereignty

Front

The driving force behind people going into business is

Back

profit motive