Investment of money to make a profit quizlet
By: div500 On: 13.06.2017
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Chapter 17 The Economic System Flashcards | Quizlet
A system in which individuals are free to produce the goods and services they choose. When supplies become scarcer, prices tend to rise.
An economic system in which government owns some factors of production and participates in answering economic questions. It offers some security and benefits to those who are less fortunate, homeless, or under-employed.
A system in which the government takes responsibility for its citizen's social and economic needs. A political and economic system where factors of production are collectively owned and directed by the state.
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