Economic Vocabulary: Question Preview (ID: 19158)


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combination of other economic systems
a) mixed economy
b) blended economy
c) traditional economy
d) supply economy

business owners decide what goods to make and sell
a) command economy
b) traditional economy
c) market economy
d) supply economy

economy in which the government makes the economic decisions
a) command economy
b) market economy
c) suppy
d) traditional economy

economy based on customs and habits of the past
a) market economy
b) mixed economy
c) traditional economy
d) command economy

amount of goods available
a) economy
b) supply
c) demand
d) market

money used in a particular country to buy goods and services
a) embargo
b) economics
c) supply
d) currency

the study of the production, distribution, and use of goods and services
a) gross domestic product
b) currency
c) trade barrier
d) economics

total value of all the goods and services produced in a country in one year
a) gross domestic product
b) traditional economy
c) market economy
d) currency

all modern countries have this type of economic system
a) market economy
b) government economy
c) traditional economy
d) mixed economy

how many consumers want the goods
a) currency
b) tariff
c) supply
d) demand

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