be123 Word Scramble
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Question | Answer |
scarcity | inadequate supply of recources (not enough) |
goods | things or items we use that are produced |
services | a job done for somone else |
economy | the careful management of producing,distributing, and produciing wealth and recources |
natural recources | these are found in the envirement |
market | anywhere goods are sold or traded |
capitol racources | goods used to mke other goods or provide a service |
wages | an amount paid to an individual for services provided |
consumer | one who uses goods and services |
labor recource | people who work |
economic system | system of orginizing wealth and recources |
traditional econimy | decisions are made based on what has been done in the past |
command econimy | the government makes the economic decisions and owns most of the property |
market econimy | recources are owned by private citesens and economic answers come from the citesens participating in the econimy |
productive recources | natural recources, labor/human recources, and capitol recources |
renewable recources | recource that can be replenished naturally |
non-renewable recources | recources that can be depleted from the envirenment |
other names for market econimy | capitalism,free market system, liassez-fair |
Created by:
twinsbigsis
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