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Study sets matching "term:business = economic system in which goods and services are exchanged for one another or money on the basis of their perceived worth"

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Study sets matching "term:business = economic system in which goods and services are exchanged for one another or money on the basis of their perceived worth"

14 terms
Unit 2: Microeconomics, Lesson 1(Goods, Services, and Money)STND11
MICROECONOMICS
BUSINESSES
HOUSEHOLDS
CIRCULAR FLOW
The study of all of the small parts of an economy is known as…
__________ produce goods and services.
____________are groups of people that live together and purch…
__________is the measure of how businesses and households use…
MICROECONOMICS
The study of all of the small parts of an economy is known as…
BUSINESSES
__________ produce goods and services.
32 terms
Economics Chapter 10 Money and Banking
money
medium of exchange
barter
unit of account
anything that serves as a medium of exchange, a unit of accou…
anything that is used to determine value during the exchange…
To exchange goods or services without the use of money
a means for comparing the values of goods and services
money
anything that serves as a medium of exchange, a unit of accou…
medium of exchange
anything that is used to determine value during the exchange…
28 terms
Year 7 Economics and Business
barter
consumer
economics
employer
To exchange goods and services for other good and services wi…
A person that uses a product or service
The study of how a society allocates scarce resources and goods
A person or firm that employs workers
barter
To exchange goods and services for other good and services wi…
consumer
A person that uses a product or service
26 terms
Principles of Business obj 1.01
Mixed economy
Entrepreneurial resources
Opportunity cost
Competitors
Combines elements of the command and market economies
The initiative to combine natural, human, and capital resources
Value of the next-best alternative that is forgone to produce…
Businesses that offer the same goods to the same customers... 1…
Mixed economy
Combines elements of the command and market economies
Entrepreneurial resources
The initiative to combine natural, human, and capital resources
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…
24 terms
ESC Year 7 Economics and Business
barter
consumer
economics
employer
to exchange goods and services for other good and services wi…
A person that uses a product or service
The study of how a society allocates scarce resources and goods
A person or firm that employs workers
barter
to exchange goods and services for other good and services wi…
consumer
A person that uses a product or service
87 terms
Business Economics Chapters 1 - 3
Authoritarian
Benefits
Business Cycle
Capital
describing a form of government that limits individual freedo…
goods and services provided for free or at greatly reduced pr…
a period of macroeconomic expansion, or growth, followed by o…
any human-made resource that is used to produce other goods a…
Authoritarian
describing a form of government that limits individual freedo…
Benefits
goods and services provided for free or at greatly reduced pr…
12 terms
economic systems
Market
Command
bartering
scarcity
Any kind of arrangement where buyers and sellers of a particu…
An economic system in which the government makes all the econ…
Exchanging goods and services for other goods and services wi…
A situation in which unlimited wants exceed the limited resou…
Market
Any kind of arrangement where buyers and sellers of a particu…
Command
An economic system in which the government makes all the econ…
54 terms
Economics
Account
Bank
Barter
Budget
A record of money deposited or withdrawn from a bank.
A business that provides money services, such as cashing chec…
To trade goods and services without using money.
A plan showing how income is to be spent.
Account
A record of money deposited or withdrawn from a bank.
Bank
A business that provides money services, such as cashing chec…
15 terms
Economics Vocabulary
Barter
Command Economy
Competition
Embargo
trading goods for goods without the use of money
economic systems where the government determines how goods ar…
rivalry among businesses to sell the most goods for the most…
trade barrier in which nations refuse to trade with other nat…
Barter
trading goods for goods without the use of money
Command Economy
economic systems where the government determines how goods ar…
22 terms
JA Economics Terms
entrepreneur
resource
capital resources
human resources
A person who comes up with a new idea and uses resources to s…
Something that is used to produce a good or service.
Buildings, tools, and machines that businesses use to make an…
People who do the work that businesses need to make and sell…
entrepreneur
A person who comes up with a new idea and uses resources to s…
resource
Something that is used to produce a good or service.
23 terms
Principles of Business 1.01
Mixed economy
Entrepreneurial resources
Opportunity cost
Economic decision-making
Combines elements of the command and market economies
The initiative to combine natural, human, and capital resources
Value of the next-best alternative that is forgone to produce…
Process of choosing which needs or wants will be satisfied
Mixed economy
Combines elements of the command and market economies
Entrepreneurial resources
The initiative to combine natural, human, and capital resources
34 terms
Money and Banking
money
medium of exchange
barter
unit of account
anything that serves as a medium of exchange, a unit of accou…
anything that is used to determine value during the exchange…
the direct exchange of one set of goods or services for another
a means for comparing the values of goods and services
money
anything that serves as a medium of exchange, a unit of accou…
medium of exchange
anything that is used to determine value during the exchange…
111 terms
Economics Unit 4: Money, Money, Money: Vocabulary
angel investors
Assets
auction market
balance sheet
wealthy investors who provide funds for startups
things of value that a person or business owns
a stock market in which buyers and sellers enter competitive…
the statement of a person's or business's financial position…
angel investors
wealthy investors who provide funds for startups
Assets
things of value that a person or business owns
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
26 terms
Principles of Business obj 1.01
Mixed economy
Entrepreneurial resources
Opportunity cost
Competitors
Combines elements of the command and market economies
The initiative to combine natural, human, and capital resources
Value of the next-best alternative that is forgone to produce…
Businesses that offer the same goods to the same customers... 11…
Mixed economy
Combines elements of the command and market economies
Entrepreneurial resources
The initiative to combine natural, human, and capital resources
83 terms
Economics - Unit 1 Economics Fundamentals
economics
scarcity
trade-offs
opportunity costs
1. the study of how individuals and nations make choices abou…
a situation in which unlimited wants exceed the limited resou…
giving up one thing in favor of another
the highest-valued alternative that must be forgone when a ch…
economics
1. the study of how individuals and nations make choices abou…
scarcity
a situation in which unlimited wants exceed the limited resou…
24 terms
Economics
Economics
Goods
Services
Resources
The study of how things are made, bought, sold and used
Anything that can be manufactured or grown
Something done for other in exchange for money
Anything used to produce a good or a service
Economics
The study of how things are made, bought, sold and used
Goods
Anything that can be manufactured or grown
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
92 terms
Unit 1 Economics Review (1-4, 10)
Scarcity
Factors of production
Opportunity cost
Natural Resources
Lack of resources. Limited resources for satisfying unlimited…
all the economic resources needed to produce a society's good…
if we decide to use our resources (i.e. money) on one thing,…
raw materials from nature used to produce goods.
Scarcity
Lack of resources. Limited resources for satisfying unlimited…
Factors of production
all the economic resources needed to produce a society's good…
15 terms
Unit 2 SW Asia Economic Terms 2a (Gantt)
Bartering
Capital Goods (Physical Capital)
Capitalism
Command Economy
a system in which goods and services are exchanged instead of…
the factories, machines, and technology that people use to ma…
an economic system in which the means of production and distr…
an economy in which a government planning group makes most of…
Bartering
a system in which goods and services are exchanged instead of…
Capital Goods (Physical Capital)
the factories, machines, and technology that people use to ma…
9 terms
Social Studies Unit 3 Goods and Services-Grade 2
trade
transportation
barter
savings account
the activity or process of buying, selling, or exchanging goo…
a system for moving passengers or goods from one place to ano…
to exchange things (such as products or services) for other t…
a bank account in which people keep money that they want to s…
trade
the activity or process of buying, selling, or exchanging goo…
transportation
a system for moving passengers or goods from one place to ano…
9 terms
Social Studies Unit 3 Goods and Services-Grade 2
trade
transportation
barter
savings account
the activity or process of buying, selling, or exchanging goo…
a system for moving passengers or goods from one place to ano…
to exchange things (such as products or services) for other t…
a bank account in which people keep money that they want to s…
trade
the activity or process of buying, selling, or exchanging goo…
transportation
a system for moving passengers or goods from one place to ano…
Microeconomics
producer
consumer
sole proprietorship
partnership
in economics, the business or individual that provides goods…
in economics, the business or individuals that buy goods and…
a business in which one owner holds all liability and control…
a business in which two or more owners share liability and re…
producer
in economics, the business or individual that provides goods…
consumer
in economics, the business or individuals that buy goods and…
27 terms
Principles of Business & Finance 1.01
Mixed economy
Opportunity Cost
Competitors
Producers
Combines elements of the command and market economies
Value of the next-best alternative that is forgone to produce…
Businesses that offer the same goods to the same customers
Individuals and organizations that determine which goods and…
Mixed economy
Combines elements of the command and market economies
Opportunity Cost
Value of the next-best alternative that is forgone to produce…
50 terms
Personal Finance - Unit 1 - Money
net worth
asset
liability
debt
the total assets minus total outside liabilities of an indivi…
property owned by a person or company, regarded as having value
the state of being responsible for something, especially by law
something, typically money, that is owed or due
net worth
the total assets minus total outside liabilities of an indivi…
asset
property owned by a person or company, regarded as having value
17 terms
Social Studies Unit 1 Economy
market economy
traditional economy
command economy
mixed economy
An economic system in which people choose freely what to buy…
system in which economic decisions are based on customs and b…
An economic system in which the government makes all economic…
A combination of a command and market economy
market economy
An economic system in which people choose freely what to buy…
traditional economy
system in which economic decisions are based on customs and b…
21 terms
Economic Terms
Market Economy
Traditional Economy
Command Economy
Tariff
An economic system in which people choose freely what to buy…
An economy in which production is based on customs and tradit…
An economic system in which the government makes all economic…
A government tax on imports
Market Economy
An economic system in which people choose freely what to buy…
Traditional Economy
An economy in which production is based on customs and tradit…
10 terms
Chapter 1 Section 4: Economics and other Social Sciences
economics
consumer
cash economy
free enterprise system
the study of how people manage limited resources to satisfy t…
a person who uses goods and services
economy in which people exchange money for goods and services
economic system in which businesses are owned by private citi…
economics
the study of how people manage limited resources to satisfy t…
consumer
a person who uses goods and services
8 terms
CHAPTER 2 ECONOMIC SYSTEMS
Economic system
Traditional system
Market system
Consumer
The way that a country or culture produces and distributes go…
An economic system based on past ways of life and culture.
An economic system in which individuals, not the government,…
A person who buys goods and services.
Economic system
The way that a country or culture produces and distributes go…
Traditional system
An economic system based on past ways of life and culture.
30 terms
Economic Terms
Market Economy
Traditional Economy
Command Economy
Tariff
An economic system in which people choose freely what to buy…
An economy in which production is based on customs and tradit…
An economic system in which the government makes all economic…
A government tax on imports or exports
Market Economy
An economic system in which people choose freely what to buy…
Traditional Economy
An economy in which production is based on customs and tradit…
25 terms
Fundamentals of Economics- Key Terms
Wants
Needs
Scarcity
Incentives
Desires that can be satisfied by consuming a good or service
things that are required in order to live
A situation in which unlimited wants exceed the limited resou…
A positive or negative rewards that encourage economic behavi…
Wants
Desires that can be satisfied by consuming a good or service
Needs
things that are required in order to live
22 terms
Chapter 2: Economic Systems
tradition
traditional economy
rural areas
Command economy
something passed down from one group to another
it does things as they are done in the past; custom and tradi…
places away from the city
is an economy which government leaders give the answers to th…
tradition
something passed down from one group to another
traditional economy
it does things as they are done in the past; custom and tradi…
13 terms
Economics Vocabulary
Resources
Economics
Trade
Goods
all things used in making goods and services
The way people and countries make decisions to meet their nee…
the activity or process of buying, selling, or exchanging goo…
Physical objects such as clothes or shoes that are made from…
Resources
all things used in making goods and services
Economics
The way people and countries make decisions to meet their nee…
30 terms
Prentice Hall Economics Chapter 2
Key Economic Questions
Economic system
Profit
Safety net
-What goods and services should be produced?... -How should thes…
the method used by a society to produce and distribute goods…
the amount of money a business receives in excess of its expe…
government programs that protect people experiencing unfavora…
Key Economic Questions
-What goods and services should be produced?... -How should thes…
Economic system
the method used by a society to produce and distribute goods…
61 terms
Economics Final Review
Scarcity
Factors of Production
Production Possibilities Curve
Mixed market economy
A situation in which unlimited wants exceed the limited resou…
Land, Labor, Capital, Entrepreneurship
a curve showing the different combinations of two goods or se…
economic system that combines both private ownership and gove…
Scarcity
A situation in which unlimited wants exceed the limited resou…
Factors of Production
Land, Labor, Capital, Entrepreneurship
23 terms
Chapter 2 Economic Systems and Factors of Production Vocabulary
Scarcity
Factors of production
Opportunity cost
Natural Resources
Lack of resources. Limited resources for satisfying unlimited…
all the economic resources needed to produce a society's good…
if we decide to use our resources (i.e. money) on one thing,…
raw materials from nature used to produce goods.
Scarcity
Lack of resources. Limited resources for satisfying unlimited…
Factors of production
all the economic resources needed to produce a society's good…
15 terms
Economic Terms
scarcity
human resources
capital resource
opportunity cost
not having as much of something that you want
people and the the skills and knowledge they bring to work
a tool, machine or building people use to produce a good or s…
the thing you give up or have for something else
scarcity
not having as much of something that you want
human resources
people and the the skills and knowledge they bring to work
14 terms
Economic Systems
economic systems
traditional economy
command economy
market economy
How a country or region handles the production and consumptio…
An economy in which production is based on customs and tradit…
A system where economic decision are made by a central govern…
Economic decisions are made by individuals or the open market.
economic systems
How a country or region handles the production and consumptio…
traditional economy
An economy in which production is based on customs and tradit…
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
83 terms
1: Intro to Economics
Need
Want
Goods
Services
Something essential for survival
Something that we desire but that is not necessary for survival
Physical objects that someone produces
Actions or activities that's one person performs for another
Need
Something essential for survival
Want
Something that we desire but that is not necessary for survival
15 terms
Unit 1 Econ
Opportunity Cost
Land
Capital Goods
Traditional Economy
The value of the alternative option that is lost when an indi…
Factor of production that includes not only property but also…
Finished goods that are used to make other goods or to provid…
Economic system in which the three basic economic questions (…
Opportunity Cost
The value of the alternative option that is lost when an indi…
Land
Factor of production that includes not only property but also…
26 terms
Economic Terms
Economics
Scarcity
Choice
Need
The study of how people make choices from limited resources (…
The condition of not being able to have all the goods and ser…
What someone must make when faced with two or more alternatives
Something we have to have in order to survive
Economics
The study of how people make choices from limited resources (…
Scarcity
The condition of not being able to have all the goods and ser…
41 terms
Combo with "Chapter 1 The Economic Environment" and 7 others
Business Cycle
Competition
Demand
Economic Resources
movement of the economy from one condition to another and bac…
rivalry among businesses to sell their products and services…
the relationship between the amount of a good or service that…
the means through which goods and services are produced
Business Cycle
movement of the economy from one condition to another and bac…
Competition
rivalry among businesses to sell their products and services…
85 terms
Principles of Business Unit 1
wants
needs
competition
goods
things we wish we could have that usually add to the comforts…
things required for survival; food, clothing, shelter
the battle between businesses for consumers that purchase sim…
a product that can be physically weighed and measured; tangible
wants
things we wish we could have that usually add to the comforts…
needs
things required for survival; food, clothing, shelter
20 terms
3rd Grade Economics Vocabulary
economy
goods
services
consumer
the way that people choose to make, buy, sell, and use things
things people buy or sell (always things or objects)
the work one person does for another
someone who buys goods or services
economy
the way that people choose to make, buy, sell, and use things
goods
things people buy or sell (always things or objects)
159 terms
Intro to Business Midterm
business
competition
consumer
decision making process
any commercial activity that seeks profit by providing goods…
the contest between businesses to win customers and sell thei…
a person who uses goods and services
1. Identify the Situation/Problem... 2. Identify the possible co…
business
any commercial activity that seeks profit by providing goods…
competition
the contest between businesses to win customers and sell thei…
36 terms
Economics (Part 1)
Economics
Scarce goods
Supply
Demand
the social science that deals with making choices about using…
items that are limited in number yet are in demand.
what goods and services are available
what goods and services consumers are buying
Economics
the social science that deals with making choices about using…
Scarce goods
items that are limited in number yet are in demand.
15 terms
SW Asia Economic Terms
Bartering
Capital Goods (Physical Capital)
Capitalism
Command Economy
a system in which goods and services are exchanged instead of…
the factories, machines, and technology that people use to ma…
an economic system in which the means of production and distr…
an economy in which a government planning group makes most of…
Bartering
a system in which goods and services are exchanged instead of…
Capital Goods (Physical Capital)
the factories, machines, and technology that people use to ma…
17 terms
Chapter 2 Economic Resources and Systems Vocab Review
Scarcity
Factors of production
Natural resources
Labor resources
Shortage of resources
All economic resources necessary to produce a society's goods…
Raw materials from natures used to produce goods
Individuals who make the goods and services for which they ar…
Scarcity
Shortage of resources
Factors of production
All economic resources necessary to produce a society's goods…
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