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4 Cards in this Set
- Front
- Back
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Economics system |
Is the way a society uses resources to satisfy it's people's wants |
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Traditional Economy |
Is an economic system in which people system in which people produce and distribute goods according to customs handed down from generation to generation. |
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Command Economy |
Is an economic system in which the government makes all economic decisions. |
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Market economy |
Is an economic system in which individual choice and voluntary exchange direct economic decisions. |
