the government attempts to own and control important resources and to make the decisions about what will be porduce and consumed a relationship between the quanity of a product consumers are willing and able to purchase a relationship between price and quantity demanded all consumers who will purchase a particular product or service natural resources capital equipment and labor the amount of satisfaction a consumer receives from the consumption of a particular product or service resources are owned by individuals rather than the government  

1. controlled economy

the government attempts to own and control important resources and to make the decisions about what will be porduce and consumed

2. demand

a relationship between the quanity of a product consumers are willing and able to purchase

3. demand curve

a relationship between price and quantity demanded

4. economic market

all consumers who will purchase a particular product or service

5. economic resources

natural resources capital equipment and labor

6. economic utility

the amount of satisfaction a consumer receives from the consumption of a particular product or service

7. free economy

resources are owned by individuals rather than the government