SocialStudies101 Word Scramble
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| Question | Answer |
| What is scarcity? | The inadequate supply of resoucres(not enough) |
| What are goods? | Things or iems we use that are produced. |
| What is ecomnomy? | The careful mangagement of producing,disrtibuting,and consuming wealth and resources. |
| What are natural resources? | Resources that are found in the evivironment. |
| What is market? | Anywhere gooods are sold or traded. |
| What are capital resources? | Goods used to make other goods or provide a service. |
| What are wages? | The amount paid to an individual for service provided. |
| What is a consumer? | Somone who uses goods and services. |
| What is labor resource? | People who work. |
| What is a economic system? | A sytem of organizing wealth and resources. |
| What is a traditional Economy? | Decisions are made based on how things have been done in the past. |
| What is a Command Economy? | The government makes the economic decisions and owns most of the property. |
| What is a Market economy? | Resources are owned by private citizens and economic answers come from the citizens participating in the economy. |
| What are provided resouces? | Natural resouces,labor/human resources,and capital resources. |
| What are renewable resources? | Resources that can be replenished naturally. |
| What are non-renewable resources? | Resources thta can be depleted form the environment. |
| What are the other names for market economy? | Capitalism,free marketing system,laissez-faire. |
Created by:
chouro
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