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Study sets matching "econ"

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Study sets matching "econ"

23 terms
Economics
economics
scarcity
shortage
shortage v. scarcity
the study of how people choose to use scarce resources to sat…
the situation that exists when there are not enough resources…
demand is greater than supply, usually the result of prices b…
shortage is temporary (demand greater than supply)... SCARCITY i…
economics
the study of how people choose to use scarce resources to sat…
scarcity
the situation that exists when there are not enough resources…
16 terms
Economics
Communist
Free Enterprise
Traditional
Socialist
Economic system where all decisions are made by the government
Economic system where producers make decisions
Economic system where decisions are based upon traditions
Economic system where decisions are based upon both governmen…
Communist
Economic system where all decisions are made by the government
Free Enterprise
Economic system where producers make decisions
12 terms
Economics
Investing
Saving
Profit
Entrepreneur
Investing
Saving
41 terms
Economics
Economics
Economic Activities
Good
Service
the study of producing, distributing, and consuming goods and…
production, consumption, distribution, exchange
tangible item available for purchase; something you can see a…
intangible acts or products fulfilled through the efforts of…
Economics
the study of producing, distributing, and consuming goods and…
Economic Activities
production, consumption, distribution, exchange
Economics
Economics
Business
Command Economy
Competition
The study of how individuals and societies make choice about…
A company whose goal it is to make a profit.
An economic system characterized by a central authority that…
Buyers and sellers participating in the market.
Economics
The study of how individuals and societies make choice about…
Business
A company whose goal it is to make a profit.
21 terms
Economics
economics
business
command economy
consumers
The study of how people and societies make choice about ways…
A company whose goal it is to make a profit.
An economic system where the government controls the economy.
Any person or group that buys or uses goods and services to s…
economics
The study of how people and societies make choice about ways…
business
A company whose goal it is to make a profit.
7 terms
Economics
Free Market/Capitalism
Communism
Agriculture
Industrial
economy is controlled by entrepreneurs for profit
economy controlled by the government like wages, distribution…
farming (the growing of crops and the raising of animals) to…
having to do with manufacturers or facrories
Free Market/Capitalism
economy is controlled by entrepreneurs for profit
Communism
economy controlled by the government like wages, distribution…
20 terms
Economics
Communism
Free Enterprise/ Capitalism
Socialism
Economics
Economic system where all decisions are made by the governmen…
Economic system where producers make decisions, Private owner…
Economic system where decisions are based upon both Public (g…
The study of people making, selling, and buying goods and ser…
Communism
Economic system where all decisions are made by the governmen…
Free Enterprise/ Capitalism
Economic system where producers make decisions, Private owner…
51 terms
economics
need
want
economics
goods
something like air, food, or shelter that is necessary for su…
an item that we desire but that is not essential to survival
the study of how people seek to satisfy their needs and wants…
physical objects such as clothes or shoes
need
something like air, food, or shelter that is necessary for su…
want
an item that we desire but that is not essential to survival
24 terms
Economics
assembly line
producer
capital resource
service
a factory setup in which each worker adds one part to a produ…
someone who makes and sells a product
money and materials needed to run a buisness
work that someone does for someone else
assembly line
a factory setup in which each worker adds one part to a produ…
producer
someone who makes and sells a product
10 terms
Economics
economics
profit
revenue
gross domestic product (GDP)
the study of how people meet their needs and wants
the money a company has left after subtracting the the costs…
the money earned by selling goods and services
the total value of all goods and services produced in a count…
economics
the study of how people meet their needs and wants
profit
the money a company has left after subtracting the the costs…
25 terms
Economics
Economics
Production
Producers
Consumption
The Production, Consumption & Distribution of Goods and Servi…
The action of creating a good or service
People who create or sell a good or service
The action of purchasing a good or service
Economics
The Production, Consumption & Distribution of Goods and Servi…
Production
The action of creating a good or service
16 terms
Economics
Economics
Goods
Services
Specialization
The study of the production, buying, and selling of goods.
Items that can be bought or sold
Help or assistance, available in many different forms that is…
When a producer focuses on creating one specific type of prod…
Economics
The study of the production, buying, and selling of goods.
Goods
Items that can be bought or sold
Economics
economy
scarcity
needs
wants
System of production, consumption, and distribution.
A situation in which unlimited wants exceed the limited resou…
requirements for survival, such as food, clothing, and shelter
Desires that can be satisfied by consuming a good or service
economy
System of production, consumption, and distribution.
scarcity
A situation in which unlimited wants exceed the limited resou…
25 terms
ECONOMICS
fundamental
associate
abuse
considerable
ana temel... esas, temel, zorunlu (= essential)
ortak... İlişkilendirmek... Birleştirmek
istismar etmek
önemli/büyük ölçüde... kaydadeğer, hatırı sayılır derecede
fundamental
ana temel... esas, temel, zorunlu (= essential)
associate
ortak... İlişkilendirmek... Birleştirmek
13 terms
Economics
Factors of Production
Technology
Economics
Scarcity
Resources of land, labor, capital and entrepreneurship used t…
Advances leading to new and improved goods and services and b…
The study of how individuals and societies make choices about…
Do not have enough income or resources to satisfy needs
Factors of Production
Resources of land, labor, capital and entrepreneurship used t…
Technology
Advances leading to new and improved goods and services and b…
21 terms
Economics
Economics
Business
Command Economy
Competition
The study of how individuals and societies make choice about…
A company whose goal it is to make a profit.
An economic system characterized by a central authority that…
Buyers and sellers participating in the market.
Economics
The study of how individuals and societies make choice about…
Business
A company whose goal it is to make a profit.
16 terms
Economics
Supply
Demand
Import
Export
The quantity of a good or service producers are willing and a…
The quantity of a good or service consumers are willing and a…
To bring goods into another country.
To send goods to another country.
Supply
The quantity of a good or service producers are willing and a…
Demand
The quantity of a good or service consumers are willing and a…
50 terms
Economics
Economy
A good
A service
Needs
How a country decides to produce goods/services and distribut…
Something you buy you can take with you like food, TVs, cars.
Something you pay for someone to do for you like cut your hai…
A Need is something you have to have to survive: food, clothi…
Economy
How a country decides to produce goods/services and distribut…
A good
Something you buy you can take with you like food, TVs, cars.
Economics
ECONOMICS
TELECOMMUNICATIONS
LITERACY RATE
LIFE EXPECTANCY
A country's system for making, selling, and buying goods and…
Sending information electronically.
The percentage of people who can read.
How long a person is expected to live.
ECONOMICS
A country's system for making, selling, and buying goods and…
TELECOMMUNICATIONS
Sending information electronically.
24 terms
Economics
Traditional Economy
An example of Traditional Economy
Command Economy
Market Economy
Based on custom and what was done in the past. "What your fat…
Hunter/Gatherer Societies
Government makes all decisions about what to produce, how to…
Consumers and businesses make the economic decisions. Governm…
Traditional Economy
Based on custom and what was done in the past. "What your fat…
An example of Traditional Economy
Hunter/Gatherer Societies
59 terms
Economics
Natural Resources
Labor
Capitol
Entrepreneurs
Naturally occurring material or substances that can be used t…
Human activity that provides good or services in an economy <…
1) represents the money a business has to use OR 2) represent…
A person who organizes and manages any enterprise, especially…
Natural Resources
Naturally occurring material or substances that can be used t…
Labor
Human activity that provides good or services in an economy <…
17 terms
Economics
Capital Resource
Consumer
Currency
Demand
Goods that are used to make other goods or to provide service…
A person who uses/buys a good or service.
The type of money that a country uses to buy or trade things.
People's willingness to buy goods or services.
Capital Resource
Goods that are used to make other goods or to provide service…
Consumer
A person who uses/buys a good or service.
34 terms
Economics
Any item that can be traded for goods…
Anything that has value that can be to…
Job done for money
When there is too much money and it be…
Money
Goods
Services
Inflation
Any item that can be traded for goods…
Money
Anything that has value that can be to…
Goods
18 terms
Economics
division of labor
specialization
sales tax
income tax
separating work equally to be more productive
providing one kind of product or service (Apple - computers)
a fee on things people buy that goes to the government
a fee on the amount of money a person makes yearly (gets take…
division of labor
separating work equally to be more productive
specialization
providing one kind of product or service (Apple - computers)
13 terms
Economics
Producer
Consumer
Needs
Wants
People who work to produce or make goods and provide services
Someone who uses or consumes goods and services
Something we have to have in order to survive (examples: food…
A good or service we would like to have but do not need in or…
Producer
People who work to produce or make goods and provide services
Consumer
Someone who uses or consumes goods and services
39 terms
Economics
Opportunity cost
Scarcity
Tradeoffs
resources
Cost of the next best alternative use of money, time, or reso…
A situation in which unlimited wants exceed the limited resou…
The fact that we have limited resources (scarcity) means that…
Anything that is used to produce goods or services
Opportunity cost
Cost of the next best alternative use of money, time, or reso…
Scarcity
A situation in which unlimited wants exceed the limited resou…
17 terms
Economics
Economy
Gross Domestic Product
Gross Domestic Product Per Capita (GDP…
Infrastructure
the system in which people produce sell and buy things
The total value of the goods and services that a country prod…
The total value of the goods and services that a country prod…
The basic systems of society such as roads, bridges, sewers a…
Economy
the system in which people produce sell and buy things
Gross Domestic Product
The total value of the goods and services that a country prod…
13 terms
Economics
producer
consumer
goods
services
a worker who grows, makes or sells products
a person who buys goods or services
things that can be bought and sold
work people do for others
producer
a worker who grows, makes or sells products
consumer
a person who buys goods or services
19 terms
Economics
natural resources
human resources
capital goods
entrepreneur
resources supplied by nature
talents and skills of human beings
human-made materials that help produce products
person who has skill and leadership to start a new business a…
natural resources
resources supplied by nature
human resources
talents and skills of human beings
20 terms
Economics
economics
goods
services
resources
the study of how people get the things they need (like food,…
objects people sell or buy; EXAMPLE: pencil, I-Pod, hamburger
activities people sell or buy; EXAMPLE: haircutting, car... wash…
supplies
economics
the study of how people get the things they need (like food,…
goods
objects people sell or buy; EXAMPLE: pencil, I-Pod, hamburger
16 terms
Economics
consumers
currency
entrepreneur
exports
people who purchase goods and services
coins and bills used to purchase goods and services
someone who opens their own business
goods made in another country and shipped to your country to…
consumers
people who purchase goods and services
currency
coins and bills used to purchase goods and services
28 terms
Economics
Economics
Economic Activity
Currency
Scarcity
Money and what we do with it...
Jobs people have
The bills and coins used as money in a country
Not enough for everyone
Economics
Money and what we do with it...
Economic Activity
Jobs people have
246 terms
Economics
Economics
Scarcity
Opportunity cost
PPF (Conceptually)
the study of choices
unlimited wants and needs cannot be satisfied by limited reso…
the next best alternative forgone when a choice is made
illustrates the maximum combination of goods a country can pr…
Economics
the study of choices
Scarcity
unlimited wants and needs cannot be satisfied by limited reso…
13 terms
economics
gross domestic product
scarcity
economics
service
The sum total of the value of all the goods and services prod…
Not having enough resources to produce all of the things we w…
the study of how individuals and nations make choices about w…
Any activity that fulfills a human want or need and returns m…
gross domestic product
The sum total of the value of all the goods and services prod…
scarcity
Not having enough resources to produce all of the things we w…
18 terms
ECONOMICS
Economics
3 Big Questions of Economics
Microeconomics
Macroeconomics
study of how communities and/or societies decides what, how a…
WHAT to produce? ... HOW to produce it ? ... WHO will consume it?... W…
is the economic study of the behaviour of individuals or grou…
is the study of the economy as a whole. This is the Australia…
Economics
study of how communities and/or societies decides what, how a…
3 Big Questions of Economics
WHAT to produce? ... HOW to produce it ? ... WHO will consume it?... W…
10 terms
Economics
scarcity
Command Economy
Quota
Market Economy
the limited supply of something
the government makes all the decisions about the economy
restrictions on the amount of a good that can be imported
the people make all the decisions about the economy
scarcity
the limited supply of something
Command Economy
the government makes all the decisions about the economy
10 terms
Economics
economy
economics
market economy
command economy
a system for coordinating society's productive activities
study of economies at both the individual and society levels
an economy in which decisions about production and consumptio…
where a central authority makes decisions about production an…
economy
a system for coordinating society's productive activities
economics
study of economies at both the individual and society levels
15 terms
economics
market economy
command economy
traditional economy
human capital
type of economy where individuals trade and own things
type of economy where the government controls everything and…
type of economy where wealth is passed down from generation t…
skills that help you make $, gained often from education
market economy
type of economy where individuals trade and own things
command economy
type of economy where the government controls everything and…
16 terms
Economics
Supply
Demand
Import
Export
The quantity of a good or service producers are willing and a…
The quantity of a good or service consumers are willing and a…
To bring goods into another country.
To send goods to another country.
Supply
The quantity of a good or service producers are willing and a…
Demand
The quantity of a good or service consumers are willing and a…
40 terms
Economics
Economy
Economic Development
Production
Producers
The careful use or management of resources such as money, mat…
Depends on the production, distribution, and consumption of g…
The making of goods.
Owners and workers.
Economy
The careful use or management of resources such as money, mat…
Economic Development
Depends on the production, distribution, and consumption of g…
40 terms
Economics
Economy
Economic Development
Production
Producers
The careful use or management of resources such as money, mat…
Depends on the production, distribution, and consumption of g…
The making of goods.
Owners and workers.
Economy
The careful use or management of resources such as money, mat…
Economic Development
Depends on the production, distribution, and consumption of g…
40 terms
Economics
Economy
Economic Development
Production
Producers
The careful use or management of resources such as money, mat…
Depends on the production, distribution, and consumption of g…
The making of goods.
Owners and workers.
Economy
The careful use or management of resources such as money, mat…
Economic Development
Depends on the production, distribution, and consumption of g…
18 terms
Economics
Economics
Economy
Scarcity
Trade-Offs
Social science that describes the factors that determine the…
Economic system consists of the production, distribution or t…
Shortage of supplies.
A compromise.
Economics
Social science that describes the factors that determine the…
Economy
Economic system consists of the production, distribution or t…
16 terms
Economics
consumers
currency
entrepreneur
exports
people who purchase goods and services
coins and bills used to purchase goods and services
someone who opens their own business
goods made in another country and shipped to your country to…
consumers
people who purchase goods and services
currency
coins and bills used to purchase goods and services
31 terms
Economics
tangiable
intangiable
goods
utility
able to be felt by touch
not able to be felt by touch
anything that satisfies a person's wants or brings satisfacti…
the quality to bringing satisfaction or happiness
tangiable
able to be felt by touch
intangiable
not able to be felt by touch
Economics
consumers
currency
entrepreneur
exports
people who purchase goods and services
coins and bills used to purchase goods and services
someone who opens their own business
goods made in another country and shipped to your country to…
consumers
people who purchase goods and services
currency
coins and bills used to purchase goods and services
Economics
Demand
Export
Microeconomics
Income
The quantity of goods and services that consumers are willing…
Goods and services sold to overseas countries.
The study of an economies separate parts
Money received on a regular basis from work, property, busine…
Demand
The quantity of goods and services that consumers are willing…
Export
Goods and services sold to overseas countries.
34 terms
Economics
Any item that can be traded for goods…
Anything that has value that can be to…
Job done for money
When there is too much money and it be…
Currency
Goods
Services
Inflation
Any item that can be traded for goods…
Currency
Anything that has value that can be to…
Goods
10 terms
Economics
factors of production
industry
measurements of economic performance f…
supply and demand
land, labor, capital, entrepreneurship
primary sector, secondary sector, tertiary sector, quadinary…
GDP, standard of living, productivity
equilibrium price
factors of production
land, labor, capital, entrepreneurship
industry
primary sector, secondary sector, tertiary sector, quadinary…
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