ECONOMICS QUESTIONS AND GRADED ANSWERS, 100%
GUARANTEE
command economic system - the government makes all the basic economic decisions
high income nations - developed countries; per capita income of $10,000 - $37,000
low income nations - less-developed countries; per capita income of less than $2,500
market economic system - the government plays a limited role in basic economic
decisions
middle income nations - more-developed countries; per capita income of $2,500 - $10,000
mixed economic system - some government decision-making; businesses are both
privately and government-owned
overpopulation - the number of people exceeds the available natural resources in an area
per capita income - a nation's annual total income divided by its total population
population density - the number of people who live in a square mile or kilometer
traditional economic system - custom determines how goods are produced and distributed
underpopulation - the birth rate is not sufficient to replace the existing population
GUARANTEE
command economic system - the government makes all the basic economic decisions
high income nations - developed countries; per capita income of $10,000 - $37,000
low income nations - less-developed countries; per capita income of less than $2,500
market economic system - the government plays a limited role in basic economic
decisions
middle income nations - more-developed countries; per capita income of $2,500 - $10,000
mixed economic system - some government decision-making; businesses are both
privately and government-owned
overpopulation - the number of people exceeds the available natural resources in an area
per capita income - a nation's annual total income divided by its total population
population density - the number of people who live in a square mile or kilometer
traditional economic system - custom determines how goods are produced and distributed
underpopulation - the birth rate is not sufficient to replace the existing population
