economic
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 | inadequate supply of resources or not enough
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| what are goods | things or items we use that are produced
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| what are services | a job done for someone else
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| what is economy | careful management of producing, distributing, & consuming wealth & resources
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| what is natural resources | these are found in the enviorment
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| what is market | anywhere goods are sold or traded
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| what are capital resources | goods used to make other goods or provide a service
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| what are wages | amount paid to an iduvidual for services provided
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| what is a consumer | one eho uses goods and services
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| what is a labor resouce | people who work
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| what is a economic system | system of organizing wealth and resources
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| what is Traditional Economy | decisions are made based on how things have been done in the past
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| What is Command Economy | the government makes the economic decisions and owns most of the property
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| What is Market Economy | resources owned privately citezens & economic answers from citezens participating
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| What is Productive Resources | natural resources,labor/human resources,and capital resources
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| What is a Renewable resource | resource that can be replenished naturally
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| What is a Non-Renewable Resouce | resources that can be depleted from the enviorment
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| What are other names for market economy????? | Capitalism,free market system,laissez-faire
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