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