Mixed Economy

Economic System in which free economic activity is subject to some government intervention
Economic system
An organized way of providing for the wants and needs of society
Traditional Economy
Economic system in which basic economic activity stems from RITUAL,HABIT or CUSTOM
Market economy
economic system in which basic economics decisions are made by people and firms acting in
their own best interest.
command economy
economic system in which basic economic decisions are made by a central authority
Economic efficiency
An economic goal that is based on the desire of people to use there resources wisely
Price stability
Economic goal based on preventing inflation
Social security
Federal program of disability and xetirenmet benifits
Fixed income
An income that does not increase as price goes up
Economic freedom
Economic goal based on the desire of PEOPLE to make there own decisions
Capitisiam
Economic system in which private citizens own the factors of productions
Profit motive
the driving force that encourages people and organizations to improve there material well being
Competition
The struggle among sellers to attract consumers while lowering costs
Voluntary exchange
A characteristic of capitilisam in which buyers and sellers freely and willingly engage in market
transactions
Modified free enterprise economy
United states economic where private owners and consumers have economics freedom but are
subject to modified government regulation