Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
3 per vocab
ecanomics vocab
| Question | Answer |
|---|---|
| inadequate sipply of resources(not enough) | scarcity |
| things or items we use that are produced | goods |
| a job done for someone else | services |
| the carful managejent of producing distributing, and consuming welth and resources | economy |
| these are found in the envionment | natural resources |
| anywhere goods are sold | market |
| Goods used to make other goods or provide a service | capital resources |
| amount 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 made based on how things have been done in the past | traditional economy |
| the government makes the economic decisions and owns most of the property | command economy |
| resources are owned by private citizens and economic answers come from the citizens participating in the economy | market economy |
| Natural resources, labor/human resources, and capital resources | productive resources |
| resource that can be replenished naturally | renewable resource |
| resources that can be depleted from the environment | non- renewable resources |
| Capitalism, free market system, laissez-faire | other names for market economy |
Created by:
l0501853
Popular World History sets