Question: Economic System

Answer: the system of production, distribution, and consumption. An organized way in which a state or nation allocate its natural resources and apportions goods and services throughout the national economy

Question: Traditional Economy

Answer: a.k.a. subsistence economy. An underdeveloped economy in which communities use primitive tools and methods to harvest and hunt for good, often resulting in little economy growth

Question: Mixed Economy

Answer: economy where there is a mix of free enterprise and government control (Socialism)

Question: Command Economy (Communism)

Answer: An economy where the government controls the means to production

Question: Market Economy (Capitalism)

Answer: Individuales own the right to production

Question: Means of production

Answer: The tools and raw material used to make a product, and the facilities and resources for producing those goods

Question: Free Enterprise

Answer: freedom of private business to organize and operate for profit in a competitive system without interference by government beyond regulation necessary to protect

Question: Economic Freedom

Answer: The freedom to choose how to produce, sell, and use your own resources, while respecting others’ rights to do the same

Question: Intranet

Answer: A network operating like the World Wide Web but having access restricted to a limited group of authorized users

Question: Propaganda

Answer: the spreading of ideas, information, or rumor for the purpose of helping or injuring an institution,a cause, or a person