Ch. 10: Shaping America's Economy

Someone who makes goods or provides services

(a)  

a tax on goods from other places

(a)  

A skill or knowledge in one job

(a)  

A type of economy where people decide what to buy and sell

(a)  

How much of a good or service is available to buy at all prices

(a)  

A small payment that is added for borrowed money (if you get a loan from the bank)

(a)  

The amount of a good or service that people will want at all prices

(a)  

Someone who buys goods and services

(a)  

Which following statements are true about a free market economy?

• Prices are chosen by the government.

• Prices change because of supply and demand.

• The government tries to control the economy through taxes.

• All of these answers are correct

What is the main role that producers play in our economy?

• They create goods.

• They buy services from others.

• They borrow money.

• They control trade