Market Economy (Mr. Jordan)

Money that is made in a business

• economy

• market economy

• revenue

• profit

• services

An economic system where free competition and prices are determined by the interaction of supply and demand.

• economy

• market economy

• revenue

• profit

• services

The way a country uses money and resources.

• economy

• market economy

• revenue

• profit

• services

When someone buys a product they are called a...

• producer

• consumer

• entrepreneur

• decomposer

____________ is rhe care use of money, resources, and means of production

• economy

• trade

• barter

• producer

When there is not enough of a good or service to meet peoples wants or needs it is called

• bartering

• scarcity

• marketing

• demanding

The difference between a business’s total sales

and the business’s total expenses.

• producer

• advertising

• profit

• division of labor

The government controls the prices in this type of economy

• Traditional

• Market

• Command

• Mixed

This type of economy is based on customs

• Traditional

• Market

• Command

• Mixed

When there is a shortage the price will usually? 

• rise
• fall
• remain the same
• equilibrium