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Luis Finance Terms
Terms in this set (46)
making or growing things to be sold.
division of labor
dividing up a task so that each worker does a different piece
economic system in which companies are not controlled by the government but decide what they want to produce or sell based on what they believe they can make profit from.
Extra; more of a product than is needed.
money received from selling goods or services
something you would like to have but don't necessarily
work or workers
people or businesses that provide goods and services
to use money to make more money.
money you pay to the government
to use someone else's money with permission in return for paying it back later sometimes with interest.
the way a society organizes the production and consumption of goods and services and answers the question of what how and for whom to produce.
goods that are used to produce other goods or services like tools machines or buildings.
economic system where most economic decisions are based on custom and history.
room with thick walls and a strong door where money is stored to keep it safe.
someone who buys a product or service.
something you must have.
money a business makes after expenses are paid.
when workers focus on doing only one part of a job.
cost of what you are giving up to get something you want more.
things that are produced
small amount of additional money you give someone who performs a service for you
bank worker who takes deposits and pays out withdrawals
work that is done for other people
amount of money you spend on something
plan of how much money can be spent and how.
when something is rare or there is not a lot of something
a business that keeps money for customers makes loans and provides other money-related services
sum of money borrowed for a certain amount of time.
money put into a bank account
supplying goods to businesses to be sold.
people and their health education experience training skills and values
the way a society organizes the production and consumption of goods and services and answers the questions of what how and for whom to produce.
money a person pays to borrow money or the money a bank pays depositors for using their money.
someone who buys and uses goods and services.
money paid or charged for something
resources like money or land that are not endless
buying and using products.
resources found naturally on earth that can be used to produce goods and services like oceans air mineral deposits forest and land.
a person who creates and manage a buisiness.
to set aside money to use later to keep money in a bank
money a person earns
taking money out of a bank account
to use money to pay for goods or services
economic system in which government planning groups make the basic economic decisions
making or growing things to be sold
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Vocabulary words: SET #1 Luis