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economics vocab of e

economics vocab

QuestionAnswer
inadequate supply of recorces scarcity
things or items we use that are producted goods
a job done fore someone else services
the careful managment of producing, distributing, and consuming wealth and resoures econamy
thease are found in the inviroment natural resoures
anywhare goods are traded markrt
goods used to make other goods or servises capital recources
amount paid to an individual for serveces provided wages
one who uses goods and servecis consumer
people who work labor recources
system of orginizing wealth and resourses economic system
decisions are made based on how things have been done in the past traditional econamy
the government makes the economic dicions and owns most of the property command econamy
resourses are owned by privitciticins and economic answers come from the citizens participating in the econamy market econamy
natural resources labor/human resources and capitol resources productivity resourses
resources that can be replinishednaturaly renewable resources
resources that can be depleted frome the envroment non-renewable resourses
capitolizum, free market system laissez-faire other names fore market econamy
Created by: abrock1999
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