Our Nation's Economy

Match it! Select the correct answer from the pull down...Good luck!

This is an economy in which the government controls exactly what is made, how much is made, and what to charge.

What is the measure of how many resources are needed to produce goods and services called?

This means that people can never have everything that they want and so, they must make choices about what to produce ane what to buy.

What is the contest among businesses to sell the most products called?

Money, land, buildings, machines, and tools needed to produce goods and services.

In what type of economy are goods and services allocated largely by prices, and consumers buy goods and services they want and can afford?

What is it called when people become skilled at one kind of job?

What type of economy allows people to own and run their own businesses with only limited control by the government?