Economy terms 11-21 Word Scramble
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Term | Definition |
Public sector | the part of the economy that is run by the government; jobs are rarely subject to economic forces |
imports | the goods and services that are brought into a country |
opportunity cost | the economic opportunity that is lost because another opportunity that is taken. The item we are forced to do without because our budget does not allow for it. |
land | refers to where a business is located. The property and building could be owned or rented |
labor | term used to describe the human effort needed to produce goods and services |
exports | the goods and services a nation sends abroad |
private sector | privately owned businesses, corporations, etc. |
capital | the money that a business needs to get started and keep operating |
depression | the severe economic slowdown of the economy, in which people lose jobs and plants close. |
entrepreneur | one who starts a business |
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teacherang19
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