Yr 8 Economics Word Scramble
S R E C V O R P E A T I T
|
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
| Term | Definition |
| Private Sector | The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled |
| Supply | Supply is the amount of a good or service available at any particular price. |
| Customer | A person who pays for goods or services |
| Rights | Rights are freedoms we have that are protected by our laws |
| Barter | Paying for goods or services with other goods or services, instead of with money. |
| Business Cycle | The long-run pattern of economic growth and recession. |
| GDP | Gross domestic product, a measure of economic activity in a country. It is calculated by adding the total value of a country's annual output of goods and services. |
| Demand | Demand refers to the amount of a good or service that people are both willing and able to buy. |
| Public Sector | Companies and corporations that are government run are part of what is known as the public sector |
| Responsibilities | Economic responsibilities are the most basic social responsibilities of business. These include providing goods and services to society at a reasonable cost, providing jobs & paying tax. |
Created by:
BexLearey
Popular Economics sets