EBME Obj. 2.01 Economic Systems and Resources

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Which is an example of a natural resource?

In which type of economy do customs and what has always been done determine the decisions that are made?

In which type of economy does the government dictate which resources will be used when and where?

Which is an example of a human resource?

What is the study of how individuals and societies seek to satisfy needs and wants through incentives, choices, and allocation of scarce resources referred to as?

In which type of economy are resources given to the one who pays the given price set by the market demands?

In which type of economy do both the market and the government make decisions about the economy?

In which type of economy do businesses and consumers make all of the decisions?