Economic Study Questions for Test

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What are the three economic systems?

In a command economy, who usually owns the farms and factories?

Goods, such as machines and tools, used in the production of other goods and services.

Customs and are habits are most important to which type of economy?

Canada will only let 50,000 t-shirts be imported from China.

Limit on the quantity of an imported good.

Tax on imported goods

Entrepreneurs are