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The social science that deals with the production distributed and competition of goods and services Economics
Economic system where private owners controle the production of goods and profits Capitalism
Exchanging one good or services for another Bartering
How much pepole have or whats avalible Supply
What or how much a person want Demand
Value of all the goods and servies producted in a country per year GPD=How rich or poor a country is GPD
How well citizences lived based on goods and servies ,Education,health,care,jobs Standard of living
The percentages of people in a country who can read and write Literacy Rate
Making a living doing what a person does best Specialization
The value of what is giving up when a choice is made Oppotunity Cost
MONEY Currency
How much one currency is worth in terms of another Exchange Rate
Values and benifits Traditional
Centeral goverment makes all desions Comand
economy based on free trade and comperhension Market
Government and privately owned businesses Mixed
A supply of people who can product goods and servises Human Capital
Items that people need to perform the job Capital goods
Items that come from the world around us for our own purposes Natural Resources
People with ideas willing to take risk Eunterpuner
Litericey rate standered living Hight GDP
literice and standerd living LOW GDP
Obstacles to trade between countries Trade barriers



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