Chapter 3: Economic System

0.0(0)
studied byStudied by 3 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/4

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

5 Terms

1
New cards
Free markets
________ are unaffected by third parties who are uninvolved.
2
New cards
Households
________ spend their wages and profit to purchase the goods and services that the firms supply.
3
New cards
Government intervention
________ impacts the invisible hand in the economy but they still have an important role to play in the economy.
4
New cards
economic system
The ________ where supply and demand define the prices.
5
New cards
USA
The ________ is closer to a capitalist economy than a command whereas Cuba is the opposite, being closer to the command economy.