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Unit Vocab words
|Things that incite or motivate you to change your economic behavior.
|Consumers determine though purchase what goods and service will be produced.
|The amount of money exchange for a good or service.
|Consists of earning after all expenses have been paid.
|Resources, goods, service, and money flowing throughout the economy.
|What is given up when a choice is made-the highest valued alternative.
|A business owned by one person who takes all of the risks and all of the profits.
|Property Owned by individuals and businesses for use without undue interference by the government.
|Factors of production that are used is the production of goods and services.
|The combining of human, nature, capital, and business resources to make goods and services.
|A person who takes a risk to produce goods and service in search of a profit.
|The inability to satisfy all wants at the same time.
|Rivalry between producers and sellers of goods and services that results in better quality goods and services at a lower price.
|Time, energy, and skills needed to produce goods and services.
|A large business with many owners called stockholders.
|The resource from the land that are needed to produce goods and services.
|Using goods and service.
|Selecting an item or action from a set of alternatives.
|A form of business owned by 2 or more individuals who share all of the risk and profits.
|The tools, machinery, factories and money that are used in providing goods and services.
|The amount of a good or service that producers are willing and able to sell at a certain price.
|The amount of a good or service that consumers are willing and able to buy at a certain price.
|People who buy and use products.
|People who use resources to provide goods and services.
|The management of the resources of a country.