Global Perspectives economics Vocabulary

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1.
1 point
what is not being able to have all the foods and services one wants
2.
1 point
a command economic system the government controls many but not all the factors of production
3.
1 point
what is the total dollar value of all goods and services produced in a nationan in a single year
4.
1 point
what are goods sold to other countries
5.
1 point
free market system is the same as capital
6.
1 point
what are preciously manufactured goods used to make other goods and services
7.
1 point
Macro economics deals with small units such as individuals and firms
8.
1 point
NAFTA stands for north african free trade agreement
9.
1 point
what is rivalry among producers and sellers of similar goods and services to win more business
10.
1 point
who controls the factors of production in a command economy
11.
1 point
what is an industry dominated by a few supplyers
12.
1 point
what is Karl Marx ideal governmentless society
13.
1 point
what is a situation i which a single supplier makes up an entire industry
14.
1 point
Micro ecomomics that deals with small units such as individuals and firms
15.
1 point
what are the four factors of production not including technology
16.
1 point
where do buyers and sellers find each other and create or exchange financial assets
17.
1 point
The WTO stands for World Trade Orginization
18.
1 point
a systm in which individuals own the factors of production and make economic decisions through free interaction while looking out for their own best interest
19.
1 point
a system combining characteristics of more than one type of economy
20.
1 point
a financial institution collects funds and invests them in financial assets
21.
1 point
who own the factors of production in capitalism
22.
1 point
what are goods brought from other countries for domestic use
23.
1 point
the total dollar value for all final goods, services and structures produced in a year with labor and property supplied by a countries residents