Unit 4 review

2. an economic system where goods and services are traded without the use of money.
3. an economic system that combines elements of different systems, such as capitalism and socialism.
4. an economic system where the government controls parts of the economy to ensure fairness for everyone.
6. an economic system where the government makes all decisions about what is produced and sold.
9. countries that have a high level of economic development and a high standard of living.
10. the relationship between the amount of a product that is available and the amount that people want to buy.
13. the total value of all the goods and services produced in a country.
14. a measure of how well people are doing in terms of health, education, and standard of living.
15. the process of countries around the world being connected through trade and communication.

1. an economic system where individuals can own businesses and make money.
5. the tools, resources, and materials needed to produce goods and services.
7. a way of dividing society into different groups based on wealth and power.
8. an economic system where the gov't owns everything and there is no private property.
11. an economic system where people are free to buy and sell goods and services.
12. countries that are working towards becoming more economically developed.