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Closed Economy. human-created assets that can enhance one's power to perform economically useful work. For additional practice, visit this book's Online Learning Center at glencoe.com. What to produce? produced? In a society with a traditional economy, the allocation of scarce resources, and nearly all other economic activity, stems from ritual, habit, or cus-tom. Match. Depression . PLAY. STUDY. ddjjdjdjdjdjdjd. What are the forms of income for the factors of production? The Law of Supply states that: As prices go up, quantity goes_____? rise and equilibrium quantity to fall . Demand . how responsive producers are to price changes. Terms in this set (36) Define economics as the definition … With Super, get unlimited access to this resource and over 100,000 other Super resources. Create. What is the flow of the Financial sector? Write.
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