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A system that is characterized by the government making most of the decisions within the nation.
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
What most nations have today. It contains parts of several types of economic systems.
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
Where producers and consumers are free to operate and compete
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
The way society organizes the production and consumption of goods and services is
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
In any economy consumer's wants are unlimited, while the resources are limited. This is
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
A system where people decide what decisions will be made and how they will be made.
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
Where government controls most of the decisions involving what will be produced, how and for whom.
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
A market with many buyers but only one seller
Scarcity
Traditional
Hands on
Economic System
Compromise
Capitalism
Monopoly
Socialism
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