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SBV list 2-1
HISTORY SBV LIST
| Question | Answer |
|---|---|
| barter | The trade of goods and services for other goods and services without the use of money |
| capital good | A productive resource consisting of human-made materials needed to produce goods and services; capital goods include buildings, machinery, equipment and tools. |
| consumer price index | A number used to measure changes in the cost of a standard group of goods and services bought by a typical urban consumer. |
| demand | The quantities of a good or service that consumers are willing and able to buy at various prices during a given time period. |
| productive capacity | The maximum output that an economy can produce without big increases in inflation. |
| referendum | The process in which a measure passed by a legislature is submitted(referred) to the voters for final approval or rejection or a petition process by which a certain percentage of electors (voters) for approval or rejection. |
| traditional economy | An economic system in which decisions on production and consumption are based upon customs, beliefs, rituals and habits. |
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sbadger
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