What is specialization?
Fundamentals of Economics

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Other
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11th Grade
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Hard
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1.
FLASHCARD QUESTION
Front
Back
resources to produce a single or few kinds of goods/services
2.
FLASHCARD QUESTION
Front
What is a mixed economic system?
Back
both individuals and government make decisions
3.
FLASHCARD QUESTION
Front
Tools and machines, a person or a business uses to produce goods and services is called _________?
Back
Capital
4.
FLASHCARD QUESTION
Front
A _____________________ buys and use goods and services.
Back
Consumer
5.
FLASHCARD QUESTION
Front
When people make and distribute goods as their ancestors did, what type of economic system is it?
Back
Traditional
6.
FLASHCARD QUESTION
Front
In a pure market system, who controls production?
Back
Individuals
7.
FLASHCARD QUESTION
Front
Ability of individuals and businesses in an economy to buy, sell, and hold property as they wish without fear of government interference or seizure.
Back
Private Ownership
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