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jnjskzl
economics vocab
| Question | Answer |
|---|---|
| iadequate supply of recources | scarcity |
| thingsor items we use that are produced | goods |
| a job done for someone else | scervice |
| the careful managment of producing distrobuting and consuming wealthand recources | economy |
| are found in the enviorment | natural recources |
| any where goods are sold or traded | market |
| goods used to make other goods | capital recources |
| amount paid to an individual for scervices | wages |
| one who uses goods and scervices | consumer |
| people who work | labor recources |
| system of organizing wealth and recources | economic system |
| decisions that are based on how things have been done in the past | traditional economy |
| the goverment makes the eonomic decisions and owns most of the property | command economy |
| recources are owned by private citizens and economic answers come from the citizens participating in the economy | market economy |
| natural recources ,labor/humanrecources,and copital recources | productive recources |
| recources tyhat can be replenished naturally | renewable |
| recources that cannot be replenished naturally | non-renewable |
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v0604149
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