A consumer is

Cost is

Demand is

An Entrepreneur is

Opportunity cost is

Service means

Supply is

Capitalism is an economic system where

The price of an item is based on

Which word does NOT belong

Which word does NOT belong

Which word does NOT belong

Which word does NOT belong

The military takes over the country of Bom. The new leaders take ownership of all energy resources, which include the natural gas and electric companies. They promise citizens of Bom lower energy prices, because the government will run these industries and hire the people to run the facilities. All other industries will remain privately owned; however, the government will be telling you how to run your businesses and regulate your industries heavily. What type of economic system does Bom have?

The government of Bom takes ownership of all industries. The citizens are promised businesses will be run for people, not for profit. Every adult is guaranteed a job. The government sets prices on goods and services. No one will be hungry or homeless. What type of economic system does Bom have

Shortages of food and other products appear in Bom. Prices increase, but wages stay the same. Elections are held and new leaders are chosen. These leaders promise to return business and industry to private ownership. They encourage new businesses and promise opportunity for big profits for owners and investors. Less government involvement in the economy and competition produce more goods and services at lower prices. What type of economic system does Bom have?

As businesses and industries of Bom become privately owned, many people lose their jobs. More goods and services are available and prices fall, but people can’t afford to buy much. Elections are held and new leaders are chosen. The new leaders take control of the largest and most important businesses and hire people. They also hire people for public service jobs such as sweeping streets and repairing public buildings. What type of economic system does Bom have