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Economics
| Term | Definition |
|---|---|
| account | the money that a person or business keeps in a bank |
| benefit | the good result of a choice |
| budget | a plan for using money |
| capital resources | things used by people to make goods and provide services |
| consumer | someone who buys goods and services |
| cost | a bad result of a decision |
| decision | the act of making up one's mind about what to do |
| deposit | to put money into a bank account |
| distribution | the delivery of goods to other places |
| division of labor | a system in which each worker performs a specific task |
| economy | the way people choose to make, buy, sell, and use things |
| flow chart | a diagram that shows how something is done |
| human resources | the skills, knowledge, and hard work that people bring to their jobs |
| interdependence | a relationship in which people or groups rely on one another |
| invention | something new that someone makes or thinks of to solve a problem |
| patent | an official document that allows an inventor to make or sell an invention |
| producer | someone who makes or sells goods or services |
| prosperity | wealth and success |
| research | the study of a subject to learn new facts |
| scarcity | a lack of goods, services, or resources |
| specialization | the practice of one particular type of work to make a certain product or service |
| spreadsheet | a piece of paper or computer program that displays information in a grid |
| trade | to exchange things with someone else |
| triad | a group of three people or things |
Created by:
mrsmobley
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