Economics Quiz

______________________________ Forbid trade with another country.

______________________________ Factories, machinery, and technology (stuff).

______________________________  - in this economic system, supply and demand for a good or service determines what to produce and how to produce it.

______________________________ - Most countries today have this economic system that falls somewhere in between pure market and pure command.

______________________________ Which economic system would be the worst or competition between producers?

______________________________Producers will make their product in the way that costs them the least amount of money so they can make a ?????

_____________________________ happens when both parties expect to gain from the trade. Both parties agree to trade with one another.

______________________________ Taxes placed on imported goods.

______________________________ The ideas and risk involved in starting a business.

______________________________ People who perform the labor.

______________________________ Raw materials from the land.