# data[].attributes.body
1. economics- Economics is the study of scarcity, its use of resources, production of goods and services and growth of production over time.

2. economic systems- An economic system is how societies or governments organize and distribute resources, services, and goods across a region

3. factors of production- Natural, Labor,Capital,Entrepreneurial

4. price- How much does something cost.

5. supply- a resource a person provides with the necessary amount of that resource.

6. demand- how much do consumers want stuff.

7. equilibrium price- A compromise so it's equal for both consumers and producers.

8. market economy- When the government doesn't have any control over what gets provided to the people

9. command economy- When the government has complete control over what gets provided to the people

10. mixed economy- A mix of market and command

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

-What kind of goods and services should be produced.

2)How to produce?

-What productive resources are used to produce goods and services.

3)For whom to produce?

-Who gets to have the goods and services.

# data[].attributes.body
Market Economy

-Some advantages to a market economy are fostering innovation, variety, and individual choices. Some disadvantages are poor work conditions.

-Some countries that use the market economy are the U.S, U.K, Japan and Germany.

Mixed Economy

-Some advantages in a mixed economy are free market, supply and demand, and capitalism. Some disadvantages to a mixed economy are government regulation and excessive taxing.

- U.S, U.K, Germany, France, Russia, and China.

Command Economy

Advantages to a command economy

-They make it equal for everyone

-You will always be in work because the government picks your job

Disadvantages

-There is not a lot of freedom when you want something for yourself

-It can cause you be unhappy and lose motivation in life

Countries that have a command economy: North Korea,Communist Cuba

# data[].attributes.body
When the curve of supply and the curve of demand intersect its equilibrium. The equilibrium is where the producers change the price to where it profits the producer but people still buy their product.

# 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
A person's income and how much they want it determines the goods and services they're willing to buy.

# 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 to produce by any competition of other market systems and the pressure of supply and high demand.

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

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

# data[].attributes.body
In some counties that have fewer workers but produce more goods is because the technology used in those countries is more high tech. This increases worker productivity.