# data[].attributes.body
Study of producing, distributing, and consuming goods and services

# data[].attributes.body
Decisions on what, how, and whom to produce too are based on individuals acting on self-interest

# data[].attributes.body
Decisions on what, how, and whom to produce to are chosen by the government for the people

# data[].attributes.body
Decisions on what, how, and whom to produce to are chosen by the people based on self-interest and the government.

# data[].attributes.body
1. Land

2. Labor

3. Capital

4. Entrepreneurship

# data[].attributes.body
Can fluctuate on demand and scarcity

# data[].attributes.body
The amount of stuff there is of an specific item

# data[].attributes.body
People's wants of a certain item

# data[].attributes.body
The quantity demanded equals the quantity supplied at the price that clears the market.

# data[].attributes.body
1. Traditional

2. Command / Planned

3. Market / Capitalism

4. Mixed

# data[].attributes.body
market- Prices can fluctuate and not everyone can have a steady income.

Mix- Creates an idea of freedom but in reality, is not and the government and the people may disagree leading to an unstable life.

Command- The government struggles to come up with realistic prices and may not recognize people's needs.

# data[].attributes.body
1. What to produce?

-What kinds of goods & services should be produced

2. How to produce?

-What productive resources are used to produce goods & services

3. For whom to produce?

-Who gets to have the goods & services

# data[].attributes.body
Market- The people can choose based on what is needed for themselves

Mix- The mix of the systems makes it possible for prices to be more regulated and ensures people's needs are met.

command- People do not have to worry about inconstancy and everyone is provided for.

# data[].attributes.body
The relationship between supply and demand is constantly changing. If supply is down, it usually is because demand is high. If demand is low, that usually means that supply is average or highly stocked, not getting much business. An equilibrium price fits in because if demand is low compared to the supply, then that is not an equilibrium price because it is not clearing the market and vis versa.

# data[].attributes.body
Command- North Korea and Nazi Germany

Mix-USA and Canada

market- Native Americans and tribes

# data[].attributes.headline
How does a market system decide what will be produced?

# data[].attributes.subject
How does a market system decide what will be produced?

# data[].attributes.body
A market system decides what will be produced based on the individual's decisions and their self-interest. There is no government involvement.

# data[].attributes.headline
In a market system, what determines how many goods and services an individual can buy?

# data[].attributes.subject
In a market system, what determines how many goods and services an individual can buy?

# data[].attributes.body
Only private businesses and individuals decide what resources (goods and services) an individual can buy.

# data[].attributes.headline
How can that be true that some nations can produce more goods with fewer workers than other countries that have more workers? 

# data[].attributes.subject
How can that be true that some nations can produce more goods with fewer workers than other countries that have more workers? 

# data[].attributes.body
Some countries can have harder working workers or have more advanced technology or systems making it easier to produce faster. Some countries may also try to skip out on quality making things easier to produce and faster.