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Sarah vocab
| Question | Answer |
|---|---|
| inadequate supply of reasources (not enough) | scarcity |
| things or items we use that are produced | goods |
| the careful management of producing, and consuming wealth and reasources | economy |
| these are found in the enviroment | natural reasources |
| anywhere goods are sold or traded | market |
| goods used to make other goods or provide a service | capital reasources |
| a job done for someone else | service |
| amount paid to an individual for services provided | wages |
| one who use good and services | consumer |
| people who work | labor reasources |
| systems of organizing weaith and reasources | economics system |
| decision are made based on how things have been done in the past | traditional economy |
| the goverment make the economic decision and own most of the property | command economy |
| reasources are owned by private citizens and economic answer come from the citizens participating in the economy | market economy |
| natural reasources,lador/human reasources, and capital reasources | pruductive reasources |
| reasource that can be replenished naturally | renewable reasources |
| reasources that can be depleted from the enviroment | non-renewable reasources |
| capitialism, free market system, laissez-faire | other names for market economy |
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s0407349
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