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Jeffrey's vocb.

ecomic vocab.

QuestionAnswer
Inadequate supply of resources Scarcity
things or iteams we use that are produced Goods
a job done for someone else services
the careful management of producing, distibuting,and consuming wealth and resources economy
these are found in the envierment natural resources
anywhere goods are sold or traded here market
goods used to make other goods or provide a serives capital resources
amount paid to an individual for services provided wages
one who uses goods and services consumer
people who work labor resouce
system of organization wealth and resources economic system
decisions are made based on how things have been done in thee past traditional economy
the government makes the economic disisions and owns most of the property command economy
resources are owned by privet citizied and economic answers come from the citizens participating in the economy market economy
natural resources, labor/human resources, and cappital resources productive resorces
resources that can be replenished naturaly renewabal resources
resources thet can be depleted from the envierment non-renewabal resources
capitalism, free market system, laissez-faire other names for market economy
Created by: c0811569
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