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

Economic system where the government controls what a factory produces

Economic system where consumers make economic decisions that occur between buyers and sellers.

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

Economy where the consumers and producers have some control and the government has some control (most common in the world)

Resources that are found in nature (comes from the earth) and used in the production of goods and services

Skills, talents and education of people used in the production of goods and services

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

What are the four factors of production? CELL

Capital resources are always ____________________________________.

Entrepreneurs are

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

What does NAFTA stand for and what countries are involved.

What are the three economic systems?

What are the three economic questions all economic systems have to answer?

Tax on imported goods

STOP (prohibit, forbid) trade with another country.

Limit on the quantity of an imported good.

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