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Economics Vocabulary 7th
Terms in this set (12)
All the things needed to make a product or provide a service.
The tools and methods used to make goods or provide services.
Someone who buys or uses good and services.
Someone who makes goods or offers services to others.
Money gained by selling something for more than the cost to make it.
The amount of goods and services available.
The number of consumers who want a product or service.
The limited resources available to meet our unlimited wants.
An economic system where people and businesses decide what to produce in order to make a profit.
An economic system where the government decides what to produce.
A type of economy where people and business decide what to make and sell without government interference.
A type of economy where people and businesses decide what to make and sell, but government rules and regulations must be followed.
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