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SPA ECON 3

QuestionAnswer
state in which people do not have enough resources to satisfy their every desire scarcity
buying and selling; doing business commerce
in economics, doing business, usually one country doing business with another trade
something that is owed; an obligation to pay back borrowed money debt
the ability to complete a task with as little use of resources as possible efficiency
the right or privilege to do what you want freedom
An increase in the capacity of an economy to produce goods and services, compared from one period of time to another growth
freedom from financial worries; safety security
resistance to sudden change; likely to remain the same stability
exchanging one thing for another; a compromise trade-offs
rewards that motivate people to behave in certain ways incentives
transfering ownership from the government to private owners privatization
transfering ownership from private owners to the government nationalization
Created by: markleyj
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