Free Market & Poverty

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

• Market 
• Traditional
• Command 
• Mixed

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

• Market

• Mixed

• Command

• Traditional

Which type of economy is usually paired with a Communist government?

• Mixed
• Market
• Command
• Traditional

Capitalism is in what type of economy?

• Traditional

• Command

• Market

• Authortarian

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

• voluntary exchange

• volunteering to help someone for free

• opportunity cost

• reading quizzes

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

• profit

• supply

• demand

• scarcity

Competition and profit motive are important characteristics of a:

• command economy

• traditional economy

• market economy

• socialist economy

The concept that people have the right and privilege to control their possessions as they wish.

• legal equality
• open opportunity
• private property
• profit incentive

goods made to use in the production of other goods

• capital resouces

• demand

• taxes

• export

A good made in the United States and sent to other countries

• export

• consumer

• savings

• taxes