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economics vocab

iadequate supply of recources scarcity
thingsor items we use that are produced goods
a job done for someone else scervice
the careful managment of producing distrobuting and consuming wealthand recources economy
are found in the enviorment natural recources
any where goods are sold or traded market
goods used to make other goods capital recources
amount paid to an individual for scervices wages
one who uses goods and scervices consumer
people who work labor recources
system of organizing wealth and recources economic system
decisions that are based on how things have been done in the past traditional economy
the goverment makes the eonomic decisions and owns most of the property command economy
recources are owned by private citizens and economic answers come from the citizens participating in the economy market economy
natural recources ,labor/humanrecources,and copital recources productive recources
recources tyhat can be replenished naturally renewable
recources that cannot be replenished naturally non-renewable
Created by: v0604149