Unit 2 Part 2 Vocab. - Puebla

These activities use raw materials to produce or manufacture something new

• Primary

• Secondary

• Tertiary

• Quaternary

These activities process and distribute information.

• Primary

• Secondary

• Tertiary

• Quaternary

These activities use natural resources directly

• Primary

• Secondary

• Tertiary

• Quaternary

These activities provide services to people and businesses

• Primary

• Secondary

• Tertiary

• Quaternary

A system in which private individuals or groups have the right to own property or business and make a profit with limited government interference.

• mixed/socialist

• command/communist

• traditional

• free market

A country that has a high standard of living, is technologically advanced, and has most people working in service or information industries is a _____ country.

• Newly industrialized

• More developed

• Less developed

An economy based on free enterprise, in which businesses are privately owned and production and prices are determined by supply and demand

• Mixed/Socialst

• Market

• Traditional

• Command/Communist

An economy where habit and custom determine the rules for all economic activity, and behavior is defined by the customs of their elders and ancestors.

• Mixed/Socialst

• Market

• Traditional

• Command/Communist

An economy in which the government owns or directs the means of production and controls the distribution of goods.

• Mixed/Socialist

• Market

• Traditional

• Command/Communist

An economy in which the government supports and regulates free enterprise through decisions that affect the marketplace.

• Mixed/Socialist

• Market

• Traditional

• Command/ Communist