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economics
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9
Economics
12th Grade
09/24/2024
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Term
what is economic?
 Definition
it is a subject in school
Term
what is the economic problem?
 Definition
the fact people have unlimited wants and limited recourses
Term
what does wage mean?
 Definition
a set amount of pay you get every day
Term
what is a salary?
 Definition
a salary is a set yearly amount of pay
Term
what is the reward for labor?
 Definition
a wage
Term
what is the reward for land?
 Definition
rent
Term
what is the reward for capital?
 Definition
skills
Term
what is an entrepreneurs reward?
 Definition
profit
Term
[image]
 Definition
jkan
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