Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Vocabulary
economics Vocabulary
| Question | Answer |
|---|---|
| What is Economy? | The careful management of producing,distributing, and counsuming wealth and resources |
| what is Economic system? | System of organizing wealth and resources |
| What is Market Economy? | System in which resources are owned by private citizens and economic awnsers come from the citizens participating in the economy |
| What is Command Economy? | system in which the goverment makes the economic desisions and owns most of the property |
| What is traditonal economy | system in which are made based on how things have been done in the past |
| What is productive resources | term refering to natrual resorces, labor/human resorces, and capitol resouces. |
| What is natrual resources | resources that are found in the enviroment |
| What is labor resources | pepole who work |
| What is capital resources | good s used to make other goods or provide a service |
| What is renewable resources | resorces that can be replenished natrually |
| What is non-renewable resource | resources that can be depleted from the envioment |
| What is goods | things or items we use that are produced |
| What is services | a job done for someone else |
| What is market | anyware goods are sold or traded |
| What is consumer | anyone who uses goods or services |
| What is wages | an amount paid to an indivisual for services provited |
| What is capitolizum,free market, laisses-fair | other names for a market economy |
| What is scarity | an inadequet supply of resources (not enough) |
Created by:
w1000323
Popular Computers sets