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Economy in Europe by:Maddy Gonzalez
Transcript of Economy in Europe by:Maddy Gonzalez
currency of russia -rubles
currency - the money used by a country to but goods and services.
currency of the EU - eruo
market -an economy which changes in price guide what and how goods and services will be produced.
mixed -an economy that blends charcteristics of both command and market economies.
Traditional -an economy in which customs and habits of the past decide what and how goods and services are produced.
command -an economy in which centrarlized planning groups decide what and hiw goods amd services will be prodused.
Human capital - Workers of businessor the country including their education.
physical capital- people work at factories and buildings.
capital goods - when people produce goods and services.