SS 9 - Market Economy

Which economy would have the least amount of government spending?

• Mixed

• Command

• Socialism

• Market

How would a free market economy be described?

• An economy in which decisions are made by the government.
• The international exchange of goods.
• An economy based on supply and demand with little or no government control
• An economy that is communist

_______ is another word for Market Economy. 

• Capitalism 
• Communism

A very small supply

• Scarcity

• Profit

• Opportunity Cost

• Tax

The consumers’ willingness and ability to purchase a good or service.

• sales

• demand

• unlimited wants

• specialization

In a market economy, price is determined by

• big corporations

• the government

• supply and demand

• global savings