hgdf
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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| what is scarcity? | a limited supply of resources[not enough]
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| what are goods | things or items we use that r produced
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| what r services? | a job done for someone else
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| what is an economy | a careful management of producing,distributing, and consuming wealth & resources
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| what is a natural resource | resources that r found in our enviorment
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| what is a market | anywhere goods r sold or traded
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| what is a capital resource | goods used to make other goods or provide a service.
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| what r wages | amount paid to an individual for service provided
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| what is a consumer | one who uses goods or services
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| what is labor resource? | people who work
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| what is the economic system? | a system of orginizing wealth & resources.
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| what is traditional economy? | decisions that r made based on how things were done in the past
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| what is command economy? | the goverment makes theeconomic decisions & owns most of the property
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| what is market economy? | resources r owned by private citizens & economic answers come from the citizens participating in the economy
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| what r productive resources? | natural resources, labor/human resources, and capital resources
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| what r renewable resources? | a resource that can b replenished easily
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| what is a non-renewable resource? | a resourcethat can b deplenished from the enviorment
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| what r other names for market economy? | capitilism, free market system, laisssez-faire
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Created by:
boss
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