Miss Smith 7 th Grade Civics *pgs (21.1)
The U.S. is considered a __________ country because we have some __________ involvement
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
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
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 _______
Economic _________ among businesses selling similar ________
Investing _________ in starting new ___________
Brings new _________ to the _______ Encourages people to _______ in a company’s _____