flashcards
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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| scarcity | inadequate supply of resources (not enough)
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| goods | things or items we use that are produced
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| services | a job done for someone else
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| economy | the carefulmanagement of producing, distributing, and consuming wealth and resources
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| natural resources | these are found in the enviroment
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| market | anywhere goods are sold or traded
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| capital resources | goods used to make other goods or provide a service
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| wages | amount paid to an individual for services provided
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| consumer | one who uses goods and services
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| labor resource | people who work
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| economic system | system of organizing wealth and resources
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| traditional economy | decisions are made based on how things have been done in the past
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| command economy | the government makes economic decisions and owns most of the property
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| market economy | resources are owned by private citizens and economic answers come from the citizens participating in the economy
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| productive resources | natural resources, labor/human resources, and capital resources
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| renewable resources | resource that can be replenished naturally
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| non-renewable resource | resources that can be depleated from the enviroment
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| other names for market economy | capitalism, free market system, laissez-faire
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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:
r1010584
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