1. Miss Smith 7 th Grade Civics *pgs. 556-560 (21.1)

2.  The U.S. is considered a __________ country because we have some __________ involvement

3.  The U.S. has a ____-__________ economic system  Can own _______ property and use their own ______ to make _____  Consumer- person who ____ _____ or ________  Producer- person or company that ________ goods or services

4.  Diagram demonstrating how consumers, __________, and the government exchange _________, products, and _____ payments  Consists of _____, services, and resources moving in ____ direction and money moving in the ________ direction

5.  The _________ demanded is the amount of a good and service that consumers are willing to buy at various possible ______  When _______ go up, demand ______. When prices _______, demand goes ___  Supply is the quantity of ______ and services that producers are willing to _____ at various possible _______

6.  Economic _________ among businesses selling similar ________

7.  Investing _________ in starting new ___________

8.  Brings new _________ to the _______  Encourages people to _______ in a company’s _____