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6 Cards in this Set
- Front
- Back
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economics- the study of how poeple produce distribiute and use goods and services
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economic system- a country's way of making chooces about how to use its resources to produce and ditribute good and services
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captialism- the free enterprice system; the economic system of the united states
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free eneterprice- a type of economic system in which bussnises may by goods and services which may and control
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regulate- set rules for
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command economy- a type of economy system in which there is no privet enterprice and which government amkes key econmoic decisions
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socalist economy-a type of economic system in which there is privet enter price but the government controls key indi
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consumers- people who buy and use good and services
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producers- idviduals or companys that make or provide goods and services
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profit- the amount of moeny left after a bussines pay its expensses
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supply- the amount of goods and services to make
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demeand the amount of goods and service that consumers would like to buy
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