Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Myers ~ Economics
Economics
| Question | Answer |
|---|---|
| goods | things people make |
| services | things people do |
| consumer | a person who buys goods or services |
| producer | a person or people who make a good or provide a service |
| interdependence | when you depend on someone else |
| trade | when you have something someone wants and they have something you want, you do this |
| voluntary exchange | when people or countries choose to trade with each other, and everyone benefits from trading |
| price | goods and services are allocated by its ___________ |
| currency | is used to buy goods and services |
| productive resources | are essential for producing goods and services |
| natural resources | are resources that occur naturally and can be found in, on, or near the earth and used for producing a good or service |
| human resources | the time and effort people spend to make goods or provide a service |
| capital resource | sometimes called capital goods (tools used to make, build, or do something) |
| entrepreneurship | an important productive resource used to create goods and services |
| public goods and services | those that cannot be sold effectively in a market economy |
| governments | provide public goods and services |
| taxes | public goods and services are paid for by _____________ |
| choices | every day we are faced with making _____________ |
| benefit | the good that comes out of buying a good or service |
| cost | what it costs when you buy a good or service |
Created by:
10210813396601714
Popular U.S. History sets