Economic Systems

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Sacrificing one good or service to produce another good or service is what?

Mixed Economy decisions are based off of who?

What are the four main economic systems?

All economic decisions in a command economy are decided by whom?

What productive resource is the quantity and quality of human effort to produce goods and services.?

Trade is necessary in an economic system.

What productive resource is a characteristic of individuals who assume the risk of organizing productive resources?

Each Economic systems answers the following questions: What, How, and Why we produce goods.