Chapter 13 Ramsey Classroom Questions and Answers

Chapter 13 Ramsey Classroom Questions and Answers Economics is a study of consumer ______. - Answer️️ -choices Every country has a unique ______ that includes its leadership, the way it makes decisions, and how the country's citizens buy stuff. - Answer️️ -Economic system The U.S is mostly a - Answer️️ -free market What you choose to __________ has a(n) ___________ on the economies of other countries. - Answer️️ -Buy; impact Economic interdependence ____________ - Answer️️ -Describes how many countries and companies around the world depend upon each other A ____________ economy is built on primary industries such as fishing and farming, and it generally has very little waste and very little surplus. - Answer️️ -traditional Equilibrium is.... - Answer️️ -When the market supply and demand match each other, resulting in price stability The buying and selling of various goods and services is called ____________. - Answer️️ -Trade _____________ is the science of the whole economy, while _____________ is the study of people, individual businesses, or markets. - Answer️️ -Macroeconomics; microeconomics