Economics Review

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

Trading something for something else - no currency involved

• demand
• barter
• goods
• market

The buildings, machines, and tools that companies use to make products

• capital resources

• human resources

• natural resources

• entrepreneurs

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

another word for money

• barter
• economics
• currency
• price

How much people want something

• supply
• demand

A person who comes up with a new idea for a product, and they actually make it and sell it.

• resource

• human resources

• consumer

• entrepreneur

What do we call all of the resources required to make a product (good or service)?

• economics

• consumption

• four factors of production

• scarcity