Write down the key terms that match the following definitions.

: a system where the government tells producers what and how to

: an economic system run by the government.

: a system aimed at equality of wealth among its members.

: an idea about how something should be organized.

: the lowest hourly wage that can legally be paid to an employee.

: a system that follows both free-market and command principles.

Command Economy: A system where the government tells producers what and how to .

Planned Economy: An economic system run by the government.  

Socialist Regime: A system aimed at equality of wealth among its members.

Theory: An idea about how something should be organized.

Minimum Wage: The lowest hourly wage that can legally be paid to an employee.

Mixed Economy: A system that follows both free-market and command principles.

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answer; /// the need to make choices because economic wants exceed economic means;