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Java Games: Flashcards, matching, concentration, and word search. |
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| Market Economy | an economic system in which the decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand |
| Command Economy | an economy in which production, investment, prices, and incomes are determined centrally by a government |
| production | the action of making or manufacturing from components or raw materials, or the process of being so manufactured |
| consumption | the using up of a resource |
| scarcity | insufficient resources, goods, or abilities to achieve the desired ends |
| distribution | the action or process of supplying goods to stores and other businesses that sell to consumers |
| exchange | the act of giving or taking one thing in return for another |
| economics | the branch of knowledge concerned with the production, consumption, and transfer of wealth |
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