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9 Cards in this Set
- Front
- Back
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This is the type of economic system that most countries use?
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Mixed Market system
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When government "leaves the economy alone" it is called
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Laizzes Faire
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The main reason a person invest money in a business
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profit motive
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All the alternatives that we give up whenever we choose one course of action over another
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trade offs
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The type of economic system that allows consumers to influence the price of good and services is
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A market system
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When prices rise for a good what happens to the quantity supplied?
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it increases
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The type of competition where supply and demand controls price is
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perfect competition
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This type of service work is on the rise.
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White collar jobs
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The amount your house is worth if you sold it minus the amount you still owe on it is called
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equity
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