What are Capital Goods?
2-6 Compare Types of Economic Systems Flashcard Business U

Flashcard
•
Business
•
9th Grade
•
Hard
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18 questions
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1.
FLASHCARD QUESTION
Front
Back
The physical assets used to produce goods and services
2.
FLASHCARD QUESTION
Front
What is Capitalism?
Back
An economic system where companies are privately-owned
3.
FLASHCARD QUESTION
Front
What is another name for a Centrally Planned Economic System?
Back
Command Economic System
4.
FLASHCARD QUESTION
Front
What is a key feature of Communism?
Back
Government ownership of production
5.
FLASHCARD QUESTION
Front
What does Economics study?
Back
How societies make decisions about resources
6.
FLASHCARD QUESTION
Front
What are Human Resources?
Back
The people assets who work for an organization
7.
FLASHCARD QUESTION
Front
What is a characteristic of a Centrally Planned Economic System?
Back
Centralized resource allocation
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