click below
click below
Normal Size Small Size show me how
economics :)
economics vocaab
Term | Definition |
---|---|
Entrepreneurship | The organizational abilities and risk taking involved in starting a new business Risking economic failure in return for economic gain |
Consumer | Consumers- people who buy and use products |
Producers | people who make things that satisfy consumers’ needs and wants |
The Basic Questions All Economic Systems Address | What is produced? (production) For whom? (distribution) How many? (consumption) How are goods produced? |
Economics | the study of how people in a society make a living and the choices people make |
Economist | a person who studies economic choices |