1.
Capital goods: people made resources such as factories machines, and tools.
2.
Capitalism: An economic system in which the resources needed 4 production are privately owned.
3.
Capitalist: Owners of the resources that are needed for production and manufacturing, such as factories and machinery.
4.
Contracts: Formal agreements about the use or sale of property or labor.
5.
Depression: A time of very slow economic activity and high unemployment .
6.
Determinates of demand: price, out look.
7.
Financial Capital or Simply Capital: Money used to pay 4 capital goods.
8.
Income: normal goods versus inferior goods.
9.
Inflation: A continuing rise in prices .
10.
Number: Potential customers pop of market.
11.
Out Look: Consumer expection of future income and prices.
12.
Power point: Supplies and demand cheaper the price more people not cheap the price less people laws of supply and demand.
13.
Price2: of other goods substitude or complementarty.
14.
Prices: Income, number,taste.
15.
Taste: Fads or fashions.
16.
What is demand: The willingness 2 buy a good or service at all prices.
17.
What is supply: Supply is the quantity of a good or service a firm is willing to produce at all prices .
18.
What is the law of supply: If nothing else changes, firms are willing to supply a greater quantity of good or service at higher prices than lower.
19.
What is the laws of demand: If nothing else change the quantity demand of a good or service is greater out lower prices then higher.
