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| Things that are produced that a person can touch or see, that can be used to satisfy (or cover your) economic needs and wants. |
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| Activitys that can be preformed to satisfy (or cover your) economic needs or wants. |
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| The study of how individuals and groups (such as: familys and goverments) choose to meet their limited resources to meet their economic needs and wants. |
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Definition
| The amount of money a person earns in one year at their jobs. |
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| The coutoms, traditions, and habits of a group affect production/buying/selling. |
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Most buisnesses are privatly
owned; if a buisness sells items, it earns money, or profit
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Definition
Economic decisions are made by
a central goverment.
The goverment decides what products are made... |
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Term
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Definition
| A Tyranny is: cruelty, and unfairness |
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| Supply is about how much goods you have to sell or to keep. |
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Definition
| Demand means the want for somthing. |
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Term
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Definition
| Consumers (people) buy the goods that are in stock or for sale. |
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