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citizen a member of a town city country state county
commutity a place were people live work and share
trade exchange goods and services
buisness a company that sells goods and services
right freedom of a certain way
responsabuility a duty
FREE enterprize a system of in witch economic desisions are made in markets by people with little goovernment influence
economy A system of prouduction and distribbutation of goods sevices and resourses
resources things and people used to produce goods and services
scarcity a situation in witch people cant have everything they want because of limited resouces
human resources the skills and abbilities of workes used in production
natual resorses things used in production that occur natually in the world such as water
capital resouses resourses made by people such as far tories
market a system in witch people and bunisses buy and sell goods services and resourses
circular flow a model of the movments of goods resourses in the econemy
public goods goods and sevices that provide benifits
public goods goods and sevices that exchange in markets
taxes requerd payments to the government
philantropy the effert to increace the well of being people through charible giving
nonprofit organization instatusions developed to increace the well of others in certian years such as education health and other good causes
opertunetiy cost the value of the next altenitive given up when a choice is made
sales price the ammout of money a buyer pays and a seller reseives for the purchase of a good
profit the money that is left over from sales after a buisness takes the law of its cost
cost the price that a buisness pays for resources needed to provide a good or service
Created by: pvgshaver