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Stack #59126
| Question | Answer |
|---|---|
| barter | trade of goods & services for other goods & services w/o the use of money |
| capital good | productive resource consisting of human made materials needed to produce goods and services; capital goods include buildings, machinery, equipment and tools |
| benefit | that which is received as an improvement or advantage as a result of a decision |
| cardinal directions | 4 main points of the compass (north, south, east, west) |
| flow resource | resource that is neither renewable nor nonrenewable, but must be used when or where it occurs (i.e. running water, wind, sunlight) |
| institutionalized racism | use of institutional policies, practices and/or procedures to withhold rights, privileges & opportunities from the race that is believed to be inferior |
| market economy | economic system in which decisions on productions & consumption are made by individuals acting as buyers & sellers |
| mixed economy | economic system that combines features of more than one of the traditional, command & market systems |
| intermediate directions | points that fall between north & east, north & west, south & east, south & west |
| opportunity cost | value of the next best alternative given up when a choice is made |
Created by:
mench
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