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Java Games: Flashcards, matching, concentration, and word search. |
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BUS:Ch 3: Comparing Economic Systems
Vocabulary Exercise
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| A | B |
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| command system | a central authority decides what to produce and how to distribute it |
| economic system | a way of producing goods and services and providing them to people |
| market system | economic decisions are based on the actions of people and businesses |
| mixed system | combination of all the other systems |
| price | amount of money given or asked for when goods/services are bought |
| standard of living | a measure of how well a person lives in a given system |
| traditional system | system in which people do things as they always have done them |
| communism | strong command system |
| captalism | free entreprise system |
| socialism | moderate command system |
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Errol A. Jones, M.Ed., MBA |
Future Millionaires Academy |
| Houston, TX |
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