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Economic-Vocabulary

Games for eco vocab

QuestionAnswer
Inadequate Supply of Resources (not enough) Scarcity
Things or Idems we use that are Produced Goods
A Job Done for someone else Services
The careful management of producing, distributing, and consuming wealth and resources Economy
These Are found in The Enviroment Natural Resources
Anywhere goods are sold or Traded Market
Goods used to make other Goods or provide a Service Capital Resources
Ammount Paid to an individual for services provided Wages
One Who uses goods and services Consumer
People Who Work Labor Resource
system of Organizing wealth and Resources Economic System
Decisions are based on how things have done in the Past Traditional Economy
Resources are owned By Private citizens and economic answers come from the Citizens prticapatingin the Ecnomy Market Economy
the government makes the ecnomic decisions and owns most of the property Command Economy
Natural Resources, labor/human resources, and capital resources Productive Resources
Resource that ccan be depleted from the enviroment non-renewable resources
Capitalism, ree market system, laissez-faire Other Names For Market Ecnomy
Created by: Demetridon
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