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World History 6
| Questions |
Answers |
| An economy in which people make economic decisions basaed on their customs and habits is called? |
traditional economy |
| An economy in which individual consumers and producers make economic decisions (also called capitalism)is called? |
market economy |
| An economy in which the central government makes all economic decisions is called? (North Korea) |
command economy |
| An economy that combines elements of traditional, market, and command economies is called? |
mixed economy |
| The exchange of goods and services in a market is called? |
trade |
| Goods and services produced within a country and SOLD OUTSIDE the country's borders are called? |
exports |
| Goods and services sold in a country that are produced in other countries are called? |
imports |
