Shared Flashcard Set

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Geo 7 economics
terms
13
Other
Not Applicable
11/27/2007

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Cards

Term
capital resources
Definition
Things that are produced by people and used to produce other goods and services.
Term
goods
Definition
Things that you can see that are produced and used.
Term
services
Definition
Something provided to people that makes life easier and you pay them.
Term
consumer
Definition
People who buy and use goods and services.
Term
consumption
Definition
The use of goods and services by consumers, businesses, and governments.
Term
demand
Definition
The number of people willing to buy an item.
Term
human resources
Definition
Human effort directed to the production of goods and services.
Term
economic interdependence
Definition
Reliance on others to meet our needs.
Term
natural resources
Definition
Something found in nature that people use to produce goods and services.
Term
incentive
Definition
Something that motivates you to do something.
Term
supply
Definition
The number of items that are offered for sale.
Term
tariff
Definition
Tax on imported goods.
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