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7 Cards in this Set
- Front
- Back
tariff
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a tax placed on imports to increase their price in the domestic market
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developing nations
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a nation only begining to develope industry
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mixed economy
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a system in gov that regulates private interprise
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capitalism
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an economic system providing free choice and individual incentive for workers, investors, consumers, and business enterprises
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scarcity
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a condition that exists because society dose not have all the resources to produce all the goods and services that evry one wants
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communism
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central gov dictates all major econamic decisioins
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equlibreum price
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the average sale rate
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