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hist. lesson 22

TermDefinition
scarcity limited supply or lack of resorces
supply The amount of a good or service that producer wants to sell
demand the amount of somthing that a consumer wants to buy
capital money & goods used to help people make or do things
entreprenurship The act of somthing that a business & talking on the risk of that business
Market econemy when each indivdual makes choices about what to make,sell, and buy
command econemy an economic system in which a central goverment decides what goods will be made and who will recive them
mixed econemy the goverment has some control over what and how much was made
Traditional econemy an ecomic system in which costom decides what people do, make, and sell.
Technology Resorce used to find online wedsites.
Free market The forces balance each for other times.
Created by: anna.f