Section 3: Economic Systems

Front

Nations with many industries and advanced technology

Back

developed nations

Front

people who buy and use products

Back

consumers

Front

an economic system in which the central government owns factories, farms, and offices

Back

communism

Front

nations with few industries and simple technology

Back

developing nations

Front

owners and workers

Back

producers

Front

What have some countries done to reduce the cost of trade? Options: increased cost of goods, decreased sales in other countries, formed trade alliances, changed their economic system

Back

formed trade alliances

Front

The economic system of the United States may be called a mixed economy because_________

Back

both the government and private individuals own industries.

Front

Many people in developing nations get their food by practicing____________

Back

subsistence farming.