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History Quiz 2.2

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Term
Definition
Scarcity   Lack of resource  
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Supply   Is the amount of a goods and service that producers want to sell  
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Demand   Is the amount of something that customers wants to buy  
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Capital   is money and goods used to help people make or do things  
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entrepreneurship   is the act of running a business and taking on the risk of that business  
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Market economy   each person, or individual makes choices about what to make, sell and buy  
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command economy   a central government that desires what goods will be made and who will receive them  
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mixed economy   the government has same control over what and how much is made  
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traditional economy   is based on a costume economy  
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Technology   the use of advanced methods to solve promblems  
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free market   when buyers chosenly makes or sell anything  
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