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eco vocab

QuestionAnswer
inadequate supply of resorces[not enough] scarety
things or items we use that are produced goods
a job done for someone else services
the careful manegment of producting distributing,and consuming wealth and resorces economy
these are found in the enviorment natural resorses
anywhere goods are sold or traded market
goods used to make other goods or provide a service capital resorces
amount paidto an individual for services provided wages
one who uses goods and services consumer
peaple who work labor resorces
system of orgaizing wealh and resorses economic system
decision are made based on how things have been done in the past traditional economy
the goverment makes the economic decision and own most of the property command economy
resorces are owned by private citizens and economy answers come from the citizen participating in the economy market economy
natural resorses ,labor /human resorses and capital resorses renewable resorses
resorses that can be deplected from the envirment non-renewable resorses
capitalism, free market system ,laissez-faire other names for market economy
Created by: bendik
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