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BizTown

Vocabulary

TermDefinition
Economy A system that guides how money is earned in a society.
Community A place where people live, work, trade, and share.
Citizen Members of a town or state and have rights and responsibilities.
Right The freedom to act in certain way.
Responsibilty Citizens have the __________ to act with respect and integrity.
Businesses The governor wants _________ to open up and sell their goods and services.
circular flow The movement and exchange of goods & services, resources and money is called __________ in an economy.
Natural Resources occur naturally in the world and are used to make goods or provide services.
Capital Resources Things made by people and used to produce goods and services.
Human Resources Refer to the labor, skills, abilities of workers.
Goods Things people buy such as groceries and soccer balls.
Services People pay for these, examples are haircuts & car repair.
Free Enterprise A system in which economic decisions are made by people with little government influence.
Created by: ashley.west
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