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Econ Intro

Donald Plants

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5.the class of industrial workers who lack their own means of production
7.the devaluation of an asset over a period of time
8.goods produced in one country are shipped to another country for future sale or trade
9.A level of material comfort as measured by the goods, services, and luxuries available to an individual, group, or nation. (3 Words)
14.an economic state in which every resource is optimally allocated to serve each person in the best way (2 Words)
18.a model of the economy in which the major exchanges are represented as flows of money, goods and services (5 Words)
20.goods produced in one country are shipped to another country for future sale or trade
26.land or belongings owned by a person or group and kept for their exclusive use (2 Words)
28.any place where the sellers of a particular good or service can meet with the buyers of that goods and service
29.The transfer of ownership of property or businesses from a government to a privately owned entity
30.How societies answer the three economic questions (2 Words)
31.A deliberate downward adjustment to the value of a country's currency, relative to another currency
32.an economic system in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy
1.desire to make a profit (2 Words)
2.a tax on imports or exports
3.Financial gain from a transaction
4.An economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's citizens and businesses and there is little government intervention (2 Words)
6.An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for food (2 Words)
10.A positive change in the level of production of goods and services by a country over a certain period of time (2 Words)
11.an area focuses on the production of a limited scope of products or services in order to gain greater degrees of productive efficiency
12.An economic system characterized by private ownership of property and productive resources, the profit motive to stimulate production (3 Words)
13.A social system whereby the state assumes primary responsibility for the welfare of its citizens, as in matters of health care, education, employment, and social security (2 Words)
15.A distribution of assets, resources, and tax liability among the people in a nation or society that is considered fair… (2 Words)
16.A system where the government, rather than the free market, determines what goods should be produced, how much should be produced and the price at which the goods will be offered for sale (2 Words)
17.A theoretical economic system characterized by the collective ownership of property and by the organization of labor for the common advantage of all members.
19.A country's exports minus its imports (3 Words)
21.Government actions and policies that restrict or restrain international trade
22.Rivalry between two or more businesses striving for the same customer or market.
23.The price of a nation’s currency in terms of another currency (2 Words)
24.An economic doctrine that opposes governmental regulation of or interference in commerce beyond the minimum necessary
25.An economic system that allows for the simultaneous operation of publicly and privately owned enterprises privately owned enterprises (2 Words)
27.partial or complete prohibition of commerce and trade with a particular country or a group of countries

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