This type of economy is a combination of private enterprises working together in the marketplace and government regulation, taxation and programs.

It is the vaule of a good in terms of money.

A __________ represents a balance among all the different buyers and sellers.

__________________ are net revenues, or the difference between total sales and total costs.

The dual monarchy or the forces affecting the shape of the economy are:

Specialization occurs when a company divides production into a number of small specialized steps or tasks.

It is the means of payment: currency or checks; they are used to buy things.

it is a factor of production; it consists of a vast array of machines, buildings, computers, software, among others.

The ability of individuals to own and profit from capital is what gives capitalism its name.

A market in which no form or consumer is large enough to affect the market price is called _____________

This occurs when a buyer or seller can affect a good´s price.

It occurs when firms or people impose costs or benefits on others outside the marketplace.

Public goods are a positive externality. They are commodities which can me enjoyed be everyone and from which no one can be excluded.

A market economy may produce inequalities in income and consumption.

In this type of system markets direct the detailed activities of day to day economic life while the government regulates social conditions and provides pensions, health care and other necessities for poor families.

Macroeconomic policies for stabilization and economic growth include: fiscal policies (of taxing and spending) and monetary policies (that affect interest rates and credit conditions).