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Unit 3 vocab

Economic and production

TermDefinition
Economics The study of how people and countries make decisions about how to use their resources in the most efficient way.
Goods A physical item that can be bought or sold Ex: car repair,clothes,food.
Services Work performed in exchange for money Ex: car repair,hair cut
Human Capital People who perform labor; employees
Capital Goods Any physical manufactured asset used in work; including buildings,machinery,vehicles,and technology.
Entrepreneur (entrepreneurship)
Economics The study of how people and countries make decisions about how to use their resources in the most efficient way
Goods A physical item that can be bought or sold Ex ; car ,clothes ,food
Services work performed in exchange for money Ex; car repair, hair cut
Human capital people who perform labor ;employees
Capital goods Any physical manufactured asset used in work ;including buildings, machinery, vehicles,and technology
Entrepreneur (entrepreneurship) A person who takes
Created by: MagiHernandez
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