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Refers to the private ownership of resources by individuals, rather than by the government.
Traditional Economy
Mixed Economy
Competition
Profit
All of the above
3
Capitalism
all of the above
Goods and services are produced in a way it has always been done
Traditional Economy
Mixed Economy
Competition
Profit
All of the above
3
Capitalism
all of the above
A name of the U.S. economy is
Traditional Economy
Mixed Economy
Competition
Profit
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3
Capitalism
all of the above
Private property means you can do what with things of value?
Traditional Economy
Mixed Economy
Competition
Profit
All of the above
3
Capitalism
all of the above
How many economic questions are answered by EACH economic system?
Traditional Economy
Mixed Economy
Competition
Profit
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3
Capitalism
all of the above
Rivalry among businesses to sell their goods and services
Traditional Economy
Mixed Economy
Competition
Profit
All of the above
3
Capitalism
all of the above
Economic system that combines elements of the command and market economies.
Traditional Economy
Mixed Economy
Competition
Profit
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3
Capitalism
all of the above
Money left from sales after all the costs from operating the business has been paid
Traditional Economy
Mixed Economy
Competition
Profit
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3
Capitalism
all of the above
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