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La History Ch 3 Voc
|physical items such as food, clothing, cars, and homes.
|activities people do for others for a fee
|one who buys or uses goods or services
|THe person or business that uses resources to make goods or provide services
|a gift of nature,part of the natural enviroment
|the people who produce goods and provide services
|the money and property used to produces goods and services
|the concept that there are not enough resources
|the value of the second choice in a decision-making situation
|the amount of the goods or services
|the amount of goods or services consumers are willing and able to buy
|the amount left after costs are subtracted from the selling price
|an economy in which customs determine questions and answer
|an economy controlled by the govenment
|an economy were individals answer questions
|trading goods and services without money
|an economic policy under which a government controls resources
|inorganic sudatances that were formed by earth
|refers to natural resources not replaced by nature once they are extracted from the environment.
|the lowest quality coal; a soft, brownish-black coal that, because of its high water content, burns poorly
|plants and animals; also called flora (plants) and fauna (animals)
|biological resources that replenish themselves over time.
|smaller, softer trees (mostly pine) that are shredded into pulp to be made into paper
|an organization of workers ofrmed to improve wages, benefits, and working conditions for workers.
|private goods & Services
|goods and services produced in a market economy
|public goods & services
|goods and services provided by the government
|refers to an economic system where producers and consumers rely on each other and on other economies to succeed.
|an offshore port in Gulf of Mexico that was constructed to handle extremely deep ships; serves primarily the offshoreoil industry and Louisiana's oil refineries.
|a tax on imports designed to keep out foreign competition.
|economic information used to measure the economy, includes gross domestic product, consumer price index, inflation rate, and unemployment rate.
|gross domestic product
|an economic indicator; the total market value of all goods and services produced in the US in a certain time period.
|consumer price index
|an economic indicator; a monthly price survey for a list of goods and services
|an economic indicator reflecting a steady increase in consumer price index
|an economic indicator; the percentage of people who are out of work and looking for jobs