Miss Smith 7 th Grade Civics *pgs

 Help people ______ and ______ the goods and ________ they need

 The ____-___________ chain- the process of obtaining goods and services to _______ your _____  How people access goods and services is what makes each ________ system _________

3 Basic _________ Systems:  __________  Command  ______

Traditional  Based on how economic ______ has been carried out in the _____ Command  __________ makes all economic __________ Market  Economic decisions made by the ______

 In a _____ market, ___________ among sellers is the ______ factor in setting ______

 Competition for __________  __________ can make products expensive and hard to _______  Choice  Supply and _______

 Production is owned by _______ citizens  Encourages people to ______ their ______ in their own companies or the companies owned by _______

 The government gives __________ (or ______) to certain industries so that people can ______ the products they produce  Ex: The gov. gives subsidies to _____ farmers so that the farmers don’t have to charge a lot for their wheat to make a ______. As a result, products using wheat (bread, flour, etc.) is cheaper also

 Conglomerate- businesses that have ______ _______ to form huge _____________