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biztown
Question | Answer |
---|---|
citizen | a member of a town city country state county |
commutity | a place were people live work and share |
trade | exchange goods and services |
buisness | a company that sells goods and services |
right | freedom of a certain way |
responsabuility | a duty |
FREE enterprize | a system of in witch economic desisions are made in markets by people with little goovernment influence |
economy | A system of prouduction and distribbutation of goods sevices and resourses |
resources | things and people used to produce goods and services |
scarcity | a situation in witch people cant have everything they want because of limited resouces |
human resources | the skills and abbilities of workes used in production |
natual resorses | things used in production that occur natually in the world such as water |
capital resouses | resourses made by people such as far tories |
market | a system in witch people and bunisses buy and sell goods services and resourses |
circular flow | a model of the movments of goods resourses in the econemy |
public goods | goods and sevices that provide benifits |
public goods | goods and sevices that exchange in markets |
taxes | requerd payments to the government |
philantropy | the effert to increace the well of being people through charible giving |
nonprofit organization | instatusions developed to increace the well of others in certian years such as education health and other good causes |
opertunetiy cost | the value of the next altenitive given up when a choice is made |
sales price | the ammout of money a buyer pays and a seller reseives for the purchase of a good |
profit | the money that is left over from sales after a buisness takes the law of its cost |
cost | the price that a buisness pays for resources needed to provide a good or service |