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A system that is characterized by the government making most of the decisions within the nation.
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
A market with many buyers but only one seller
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
In any economy consumer's wants are unlimited, while the resources are limited. This is
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
Where there are only a few sellers producing a very similar product or service.
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
The government owns and controls most of the resources of a nation.
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
What most nations have today. It contains parts of several types of economic systems.
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
Where producers and consumers are free to operate and compete
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
A system where people decide what decisions will be made and how they will be made.
Compromise
Scarcity
Monopoly
Socialism
Communism
Traditional
Oligopoly
Capitalism
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