How can we help?

You can also find more resources in our Help Center.

Study sets matching "economics economic systems decision"

Study sets
Classes
Users

Study sets matching "economics economic systems decision"

25 terms
Economic Systems and Decision Making
Traditional economy
Economic systems
Command economy
Socialism
economic system in which the allocation of scarce resources,…
organized way a society provides for the wants and needs of i…
economic system characterized by a central authority that mak…
economic system in which government owns some factors of prod…
Traditional economy
economic system in which the allocation of scarce resources,…
Economic systems
organized way a society provides for the wants and needs of i…
29 terms
Economics - Economic Systems & Decision Making
Economic System
Traditional Economy
Command Economy
Market Economy
an organized way of providing for the wants and needs of thei…
An economy in which production is based on customs and tradit…
An economic system in which the government controls a country…
Economic decisions are made by individuals or the open market.
Economic System
an organized way of providing for the wants and needs of thei…
Traditional Economy
An economy in which production is based on customs and tradit…
24 terms
Economics Ch 2 Economic Systems and Decision Making
economic system
traditional economy
command economy
market economy
the method used by a society to produce and distribute goods…
economic system that relies on habit, custom, or ritual to de…
economic system in which a central authority is in command of…
an economic system based on free enterprise, in which busines…
economic system
the method used by a society to produce and distribute goods…
traditional economy
economic system that relies on habit, custom, or ritual to de…
32 terms
Economic Decisions & Systems
basic economic problem
capital resources
capitalism
command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
basic economic problem
the mismatch of unlimited wants and needs and limited economi…
capital resources
products and money used to produce goods and services
49 terms
Economic Systems and Decision Making
A great variety of goods and services…
The American economic system can be de…
Refusing a job applicant on the basis…
Public education in the United States…
A Marker economy
Free enterprise
Called discrimination
Government
A great variety of goods and services…
A Marker economy
The American economic system can be de…
Free enterprise
25 terms
Economic Decisions and Systems
Wants
Needs
Goods
Services
Things that add comfort and pleasure to your life
Things that are required in order to live
Things that you can see and touch
Activities that are consumed at the same time they are produced
Wants
Things that add comfort and pleasure to your life
Needs
Things that are required in order to live
27 terms
Economic Systems and Decision Making
Economic system
Traditional economy
Command economy
Market economy
An organized way of providing for the wants and need of a soc…
Economic system in which basic economic activity stems from r…
Economic system in which basic economic decisions are made by…
Economic system in which basic economic decisions are made by…
Economic system
An organized way of providing for the wants and need of a soc…
Traditional economy
Economic system in which basic economic activity stems from r…
32 terms
Economic Decisions and Systems
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
18 terms
Economic Systems & Decision Making
Economy
Economic System
Traditional Economy
Command Economy
An organized way of providing for the wants and needs of thei…
An organized way of providing for the wants and needs of thei…
The allocation of scarce resources , and nearly all other eco…
One in which a central authority makes most of the WHAT , HOW…
Economy
An organized way of providing for the wants and needs of thei…
Economic System
An organized way of providing for the wants and needs of thei…
8 terms
Economic systems and decision making
Economic system
Traditional economy
Market economy
Capitalism
Providing for the wants and needs of the people.
Use if scarce resources.
People make decision in own best interest.
Private citizens own factors of production.
Economic system
Providing for the wants and needs of the people.
Traditional economy
Use if scarce resources.
16 terms
Economic systems and Decision making
Modified free enterprise economy
Competition
Socialism
Consumer Sovereignty
economy in which people carry on their economic affairs freel…
struggle among sellers to attract customers
political and economic system in which the government owns an…
role of the consumer as ruler of the market
Modified free enterprise economy
economy in which people carry on their economic affairs freel…
Competition
struggle among sellers to attract customers
18 terms
Economic Systems and Decision Making
Economy
Economic system
Traditional Economy
Command Economy
the wealth and resources of a country or region, especially i…
An economic system is a system of production and exchange of…
A traditional economy is an original economic system in which…
an economy in which production, investment, prices, and incom…
Economy
the wealth and resources of a country or region, especially i…
Economic system
An economic system is a system of production and exchange of…
17 terms
Economic Systems and Decision Making
Economy
Economic System
Traditional Economy
Command Economy
...
An organized way of providing for the warns and needs of thei…
The allocation of scarce resources, and nearly all other econ…
Central authority makes most of what, how, and for whom decis…
Economy
...
Economic System
An organized way of providing for the warns and needs of thei…
32 terms
Economic Decisions and systems (bruce)
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
27 terms
Economic Systems and Decision Making
Economic system
Traditional economy
Command economy
Market economy
An organized way of providing for the wants and need of a soc…
Economic system in which basic economic activity stems from r…
Economic system in which basic economic decisions are made by…
Economic system in which basic economic decisions are made by…
Economic system
An organized way of providing for the wants and need of a soc…
Traditional economy
Economic system in which basic economic activity stems from r…
20 terms
Economic Decisions and Systems
scarcity
economic decision-making
trade-off
opportunity cost
not having enough resources to satisfy every need.
the process of choosing which needs and wants will be satisfi…
When you give up something to have something else.
the value of the next-best alternative that you were not able…
scarcity
not having enough resources to satisfy every need.
economic decision-making
the process of choosing which needs and wants will be satisfi…
20 terms
Economic Systems and Decision Making
Economy
Economic System
Traditional Economy
Command Economy
...
...
...
...
Economy
...
Economic System
...
31 terms
Economic Systems and Decision Making
Economic systems
Traditional economy
Command economy
Market economy
An organized way of providing for the wants and needs of thei…
The use of scarce resources—and nearly all other economic act…
A central authority makes the major decisions about WHAT, HOW…
People make decisions in their own best interest
Economic systems
An organized way of providing for the wants and needs of thei…
Traditional economy
The use of scarce resources—and nearly all other economic act…
55 terms
Economic Decision and Systems
W/N-a jogging suit
W/N-a loaf of bread
W/N-a videocassette recorder
Economic resources are often called___…
want
need
want
factors of production
W/N-a jogging suit
want
W/N-a loaf of bread
need
17 terms
Economic Decisions and Systems
Needs
Wants
Scarcity
Opportunity Cost
Things that are required in order to live
Things that add comfort and you enjoy
Not having enough resources to satisfy every need
The value of the next best alternative that you were not able…
Needs
Things that are required in order to live
Wants
Things that add comfort and you enjoy
45 terms
economic systems and decision making
our economic system is called a ______…
in the united states the customer's co…
people and companies make most of the…
people who are living on a ________ fi…
modified private enterprise economy
consumer sovereighnty
market economy
fixed income
our economic system is called a ______…
modified private enterprise economy
in the united states the customer's co…
consumer sovereighnty
32 terms
Economic Decisions and Systems
Basic Economic Problem
Capital Recources
Capatilism
Command Economy
The mismatch of unlimited wants and needs and limited economi…
Products and money used to produce goods and services.
The private ownership of economic resources by individuals ra…
An economy in which resources are owned and controlled by the…
Basic Economic Problem
The mismatch of unlimited wants and needs and limited economi…
Capital Recources
Products and money used to produce goods and services.
27 terms
Economic Systems and Decision Making
Economic system
Traditional economy
Command economy
Market economy
An organized way of providing for the wants and need of a soc…
Economic system in which basic economic activity stems from r…
Economic system in which basic economic decisions are made by…
Economic system in which basic economic decisions are made by…
Economic system
An organized way of providing for the wants and need of a soc…
Traditional economy
Economic system in which basic economic activity stems from r…
33 terms
Economic decisions and systems
Needs
Wants
Services
Economic resources
Things that are required in order to live
Things that add comfort
Are activities provided for the satisfaction of others that a…
Are the things available to be used to produce goods and serv…
Needs
Things that are required in order to live
Wants
Things that add comfort
32 terms
Economic Decisions and systems
basic economic problem
Capital resources
capitalism
command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
Economic decisions and systems
Needs
Wants
Goods
services
things that are required in order to live
things that add comfort and pleasure to your life
things that you can see and touch
activities that are consumed at the same time they are produced
Needs
things that are required in order to live
Wants
things that add comfort and pleasure to your life
32 terms
Economic Decisions and Systems
Wants
Traditional economy
Trade-off
Supply curve
things that add comfort and pleasure to your life
an economy in which goods and services are produced the way t…
what you make when you give something up to have something else
the graphic view of the supply for a product or service. The…
Wants
things that add comfort and pleasure to your life
Traditional economy
an economy in which goods and services are produced the way t…
31 terms
Economic decisions/systems
Capitalism
Consumer
Producers
Goods
Private ownership of resources by individuals rather than by…
Person who buys and uses goods and services
Individuals and organizations that determine what products an…
Things that you can see and touch
Capitalism
Private ownership of resources by individuals rather than by…
Consumer
Person who buys and uses goods and services
20 terms
Economic Decisions and systems
Basic Economic Problem
Capitol resources
Capitalism
Command economy
The mismatch of unlimited wants and needs and limited economi…
Products and money used to produce goods and service.
The private ownership of economic resources by individuals ra…
An economy in which resources are owned and controlled by the…
Basic Economic Problem
The mismatch of unlimited wants and needs and limited economi…
Capitol resources
Products and money used to produce goods and service.
10 terms
Economic Decisions and Systems
scarcity
economic decision-making
trade-off
opportunity cost
not having enough resources to satisfy every need
the process of choosing which needs and wants will be satisfi…
An exchange of one thing in return for another;
Cost of the next best alternative use of money, time, or reso…
scarcity
not having enough resources to satisfy every need
economic decision-making
the process of choosing which needs and wants will be satisfi…
32 terms
Economic Decisions and Systems
Basic Economic problem
Capital Resource
Capitalism
Command Economy
The mismatch of unlimited wants and needs and limited economi…
Products and money used to produce goods and services
The private ownership of economic resources by individuals ra…
An economy in which resources are owned and controlled by the…
Basic Economic problem
The mismatch of unlimited wants and needs and limited economi…
Capital Resource
Products and money used to produce goods and services
32 terms
Economic decisions and systems
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
19 terms
economic decisions and systems
capitalism
command economy
consumer
demand
the private ownership of resources by individual, rather than…
an economy in which resources are owned and controlled by the…
a person who buys and uses goods and services
the quality of good or service that consumers are willing and…
capitalism
the private ownership of resources by individual, rather than…
command economy
an economy in which resources are owned and controlled by the…
20 terms
Economic Decisions and Systems
needs
wants
goods
services
things that are required in order to live
are things that add comfort and pleasure to your life
are things that you can see and touch
are activities provided for the satisfaction of others that a…
needs
things that are required in order to live
wants
are things that add comfort and pleasure to your life
32 terms
Economic Decisions and systems
basic economic problem
Capital resources
capitalism
command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
21 terms
Economic Decisions & Systems
Capitalism
Command Economy
Consumer
Demand
Refers to the private ownership of economic resources by indi…
The resource are owned and controlled by the government.
Person who buys and uses goods and services.
Describes a consumer's desire and willingness to pay a price…
Capitalism
Refers to the private ownership of economic resources by indi…
Command Economy
The resource are owned and controlled by the government.
32 terms
Economic decisions and systems
Basic economic problem
Capital resources
Capitalism
Command Economy
The mismatch of unlimited wants and needs and limited economi…
Products and money used to make goods and services
Private ownership of resources
Resources are owned and controlled by the government
Basic economic problem
The mismatch of unlimited wants and needs and limited economi…
Capital resources
Products and money used to make goods and services
33 terms
Economic Decisions and Systems
basic economic problem
capital resources
capitalism
command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
basic economic problem
the mismatch of unlimited wants and needs and limited economi…
capital resources
products and money used to produce goods and services
32 terms
Economic Decisions and Systems.
Basic economic problem
Capital resources
Capitalism
Command economy
miss-match of unlimited wants and needs and limited economic…
the products and money used in the production of goods and se…
private ownership of resources
resources are owned and controlled by the government.
Basic economic problem
miss-match of unlimited wants and needs and limited economic…
Capital resources
the products and money used in the production of goods and se…
32 terms
Economic Decisions and Systems
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
The tools, equipment, and buildings that are used to produce…
An economic system based on private ownership of capital
An economic system in which the government controls a country…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
The tools, equipment, and buildings that are used to produce…
32 terms
Economic Decisions and Systems
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
32 terms
Economic Decisions and Systems
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
32 terms
Economic Decisions and Systems
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
32 terms
Economic Decisions and Systems
Basic economic problem
Capital resources
Capitalism
Command economy
the mismatch of unlimited wants and needs and limited economi…
products and money used to produce goods and services.
the private ownership of economic resources by individuals ra…
an economy in which resources are owned and controlled by the…
Basic economic problem
the mismatch of unlimited wants and needs and limited economi…
Capital resources
products and money used to produce goods and services.
32 terms
Economic decisions and systems
basic economic problem
Economic resources
Economic System
Entrepreneur
the process of choosing which needs and wants will be satisfi…
Economic resources things available to be used to produce goo…
the method a country uses to answer the three economic questi…
Entrepreneur someone who takes a risk in starting a business…
basic economic problem
the process of choosing which needs and wants will be satisfi…
Economic resources
Economic resources things available to be used to produce goo…
20 terms
Economic Decisions and Systems
needs
wants
goods
services
things that are required in order to live
things that add comfort and pleasure to your life
things you can see and touch; they are products you can purch…
activities provided for the satisfaction of others that are c…
needs
things that are required in order to live
wants
things that add comfort and pleasure to your life
14 terms
Economic Decisions and Systems
Contingent Worker
Intermediaries
Service Business
Proprietorship
One who has no explicit or implicit contract for long-term em…
Businesses involved in selling the goods and services of prod…
Carries out activities that are consumed by its customers
Business owned and run by just one person
Contingent Worker
One who has no explicit or implicit contract for long-term em…
Intermediaries
Businesses involved in selling the goods and services of prod…
20 terms
economic decisions and systems review
prosperity
capital resources
values
standard of living
A phase in the business cycle where most people who want to w…
The tools, equipment, buildings, and money used to produce go…
Things that are important to you in life
A measure of how well people in a country live
prosperity
A phase in the business cycle where most people who want to w…
capital resources
The tools, equipment, buildings, and money used to produce go…
23 terms
Economic Decisions and Systems
Basic economic problem
Capital resources
Capitolism
Command economy
The mismatch of unlimited wants and needs and limited economi…
Products and money used to produ
The private ownership of economic resources by individuals, r…
When resources are owned and controlled by the government
Basic economic problem
The mismatch of unlimited wants and needs and limited economi…
Capital resources
Products and money used to produ
32 terms
Economic decisions and systems
Basic economic problem
Capital resources
Capitalism
Command economy
The mismatch of unlimited wants and needs and limited economi…
Products and money used to produce goods and services
The private ownership of economic resources by individuals ra…
An economy in which recourses are owned and controlled by the…
Basic economic problem
The mismatch of unlimited wants and needs and limited economi…
Capital resources
Products and money used to produce goods and services
1 of 10