Economics
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| show | Traditional, Command, Market, Mixed
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| show | Inuit Tribe
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| show | North Korea
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| What is an example of a Market system? | show 🗑
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| What is an example of a Mixed system? | show 🗑
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| show | Produce
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| show | customs and traditions
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| Who owns the resources in a traditional system? | show 🗑
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| Who keeps the profit in a traditional government? | show 🗑
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| Define economics. | show 🗑
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| show | Bartering is the exchange of one good for another.
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| show | The government decides what goods are made and how they're made.
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| show | The Government
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| show | The Government
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| show | Type of Command economy where everyone is equal.(...in theory)
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| In a Communist system, who owns the resources? | show 🗑
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| show | Everyone shares equally(... in theory)
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| show | Type of Command economy. Most businesses are owned and run by the government.
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| In a Socialist system, who owns the resources? | show 🗑
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| In a Socialist system, who keeps the profit? | show 🗑
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| show | An Economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority.
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| show | An economic system in which private owners control the production of goods and profit.
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| In a Market system, who owns the resources? | show 🗑
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| show | The people (individuals)
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| show | The quantity of a product or service in a market and avalie for purchase.
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| show | The desire to purchase with power to do so.
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| Define a Mixed economy. | show 🗑
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| show | YES
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| show | Regulations
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| What is a regulation? | show 🗑
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| show | False
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| True or False.: UK has an economy that's closer to Market than Russia. | show 🗑
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| show | US
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| Russia US UK Germany: Out of the 4 countries above, which one has an economic system that is closest to a Command system? | show 🗑
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| Define embargo. | show 🗑
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| show | A special tax.
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| Define quota. | show 🗑
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| What is GDP? | show 🗑
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| What is a human resource? | show 🗑
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| What is a capital good? | show 🗑
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| What is a natural resource? | show 🗑
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| show | A person with ideas that take risks to start a business
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| What is Standard of Living? | show 🗑
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| show | The percentage of people in a country who can read and write.
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| show | Producing and providing services you do best
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| What is Oppertunity Cost? | show 🗑
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| Give 2 examples of capital goods. | show 🗑
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| show | Trees, crops, water, coal, petroleum, etc. ( anything that comes from nature)
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| What are 3 ways countries could invest in human resources? | show 🗑
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| show | money
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| show | how much one currency is worth in terms for another
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