Read page 36 - 40; Complete questions on page 39 - 1 and 2 - Think Critically
1.some examples of privatization are businesses and private schools.
2.companies selling their businesses to other companies is associated with privatization.
complete page 40 - Review Global Business Terms
1.factors of production-the resources employed to produce goods and services.
2.economic system-the system of production, distribution and consumption of goods and services of an economy.
3.command economy-An economywhere supply and price are regulated by the government rather than market forces.
4.market economy-is an economy based on the division of labor in which the prices of goods and services are determined in a free price system set by supply and demand.
5.mixed economy-is an economic system that includes a variety of public and government control, or a mixture of capitalism and socialism.
6.privatization-the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector (government) to the private sector.
7.Apples, strawberries, and raspberies are three examples of factors of production.
8.The three economic questions are...1.What goods and services are to be produced? 2.How should the goods and services be produced? 3. Form whom should the gooods and services be produced?
9.Three characteristics of capitalism are 1.Natural resources 2.human resources 3.capital resources.
10.mixed economy.
11.command economy.
12.market economy
13.market economy
14.command economy
15.
1.some examples of privatization are businesses and private schools.
2.companies selling their businesses to other companies is associated with privatization.
complete page 40 - Review Global Business Terms
1.factors of production-the resources employed to produce goods and services.
2.economic system-the system of production, distribution and consumption of goods and services of an economy.
3.command economy-An economywhere supply and price are regulated by the government rather than market forces.
4.market economy-is an economy based on the division of labor in which the prices of goods and services are determined in a free price system set by supply and demand.
5.mixed economy-is an economic system that includes a variety of public and government control, or a mixture of capitalism and socialism.
6.privatization-the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector (government) to the private sector.
7.Apples, strawberries, and raspberies are three examples of factors of production.
8.The three economic questions are...1.What goods and services are to be produced? 2.How should the goods and services be produced? 3. Form whom should the gooods and services be produced?
9.Three characteristics of capitalism are 1.Natural resources 2.human resources 3.capital resources.
10.mixed economy.
11.command economy.
12.market economy
13.market economy
14.command economy
15.