Economic Systems

A pattern of growth and contraction in modern economies.

A system where economic decisions are made by the government.

The connection of different parts of the world; it results in the expansion of international culture, economics, and politics.

Someone who uses and/or buys goods and services.

A continual decline in the cost of goods and services.

The amount of goods or services that consumers are willing and able to buy at different prices.

The way goods and services are distributed in a society to meet people’s needs and wants.

Things that are produced for people to buy.

A continual increase in the price of goods and services.

A system where economic decisions are made by private groups and individuals. Businesses can decide how they would like to price their items.