1
economy where people follow traditions and customs
2
An economic system in which resources are primarily owned and controlled by the private sector.
3
what is given up when a choice is made
4
Interaction determines price.
5
An economic system in which the government controls a country's economy.
6
Combination of free market and command principles
7
the using of goods and services.
8
the combining of human, natural, capital, and entrepreneurship resources to make goods or provide services
9
factors of production that are used in the production of goods and services.
10
things that incite or motivate
11
is the inability to satisfy all wants at the same time
12
the amount of a good or service that consumers are willing and able to buy at a certain price.
13
the amount of a good or service that producers are willing and able to sell at a certain price.
14
the amount of money exchanged for a good or service
