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How many economic questions are answered by EACH economic system?
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
Which one of the following is NOT one of the three economic questions answered by EVERY economic system?
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
Private property means you can do what with things of value?
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
Goods and services are produced in a way it has always been done
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
A name of the U.S. economy is
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
Refers to the private ownership of resources by individuals, rather than by the government.
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
Rivalry among businesses to sell their goods and services
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
Money left from sales after all the costs from operating the business has been paid
all of the above
3
How will we make money?
Capitalism
Traditional Economy
Competition
All of the above
Profit
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