
Economic Systems KeyTerms
Authored by jennifer franklin
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12th Grade
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10 questions
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1.
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1 min • 1 pt
taking away rules or laws on an industry such as deregulation of transportation.
2.
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1 min • 1 pt
the institutions, producers, consumers, and other groups that answer the three basic economic questions in a society
the institutions, producers, consumers, and other groups that answer the three basic economic questions in a society
3.
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1 min • 1 pt
money a person makes from working
money a person makes from working
4.
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1 min • 1 pt
adding rules or laws established by the government such as taxes, tariffs, subsidies, Federal Reserve guidelines, environmental protections, safety guidelines, and consumer protection
5.
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1 min • 1 pt
fairness in the access to goods and service
6.
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1 min • 1 pt
An economy uses all of its resources to produce goods and services that are desired and does not waste resources on unwanted products
An economy uses all of its resources to produce goods and services that are desired and does not waste resources on unwanted products
7.
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1 min • 1 pt
Market Economy - producers and consumers make economic decisions and the factors of production are privately owned
Market Economy - producers and consumers make economic decisions and the factors of production are privately owned
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