the production, distribution and consumption of goods and services.
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Capital | machines and tools used in production.
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| economist | a person who study's economics.
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| goods | a tangible product which may be sold to a consumer or other industry.
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| labor | physical and/or mental work.
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| producing | the way societies turn resources into goods and services.
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| profit | the difference the revenue that a business generates from its goods.
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| assembly line | a manufacturing process that uses standardized parts for the mass production of goods.
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| consumer service | a service performed for the customer at the consumer level.
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| factors of production | the factors that may be combined in many ways to make a profit- natural resources, laber, capital,and other products.
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| free market economy | the type of economy in which the market determines what goods and services are produced (such as the United States economy).
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| industrial service | a service performed at the producer level.
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| maximizing profits | making the difference between revenues and costs as a large as possible.
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| other products | products that were manufactured somewhere elsethat are used to make other products.
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
tstretch
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