economics

Trading something for something else - no currency involved

• demand
• barter
• goods
• market

Tools we use to make products

• capital resources
• human resources
• natural resources
• entrepreneurs

Economic system where government controls everything.

• Market
• Command
• Mixed
• Free Enterprise

Type of Economy that is half command and half market

• Traditional
• Command
• Market 
• Mixed

Type of economic system where there is no government control.

• Mixed
• Market
• Free Enterprise
• Command

Capitalism is most closely related to which type of economic system?

• Command
• Traditional
• Free Enterprise
• Mixed

When the supply of a product or service goes up and the demand stays the same the Price will typically do what? 

• rise
• fall
• stay the same
• Consumer

When there is a shortage the price will usually? 

• rise
• fall
• remain the same
• equilibrium