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Study sets matching "term:economy = a social system that converts resources into goods and services"

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Study sets matching "term:economy = a social system that converts resources into goods and services"

10 terms
Social Studies - Goods and Services
goods
services
wants
needs
things you can buy or consume, such as food, books, or toys
something someone does for you
things that people would like to have for ENJOYMENT but can l…
things that people require for SURVIVAL
goods
things you can buy or consume, such as food, books, or toys
services
something someone does for you
Social 8. Economy
Economy
Wants and Needs
Rersources
Natural Resource
A system of distributing resources to satisfy people's wants…
Producers want to satisfy wants and needs
Things used to create products to satisfy people's wants and…
Used to create products -water, fossil fuels
Economy
A system of distributing resources to satisfy people's wants…
Wants and Needs
Producers want to satisfy wants and needs
6 terms
economy
entrepreneur
profit
opportunity cost
scarcity
a person who organizes and manages any enterprise, especially…
the monetary surplus left to a producer or employer after ded…
Refers to what you give up (your next best choice) in order t…
Limited quantities of resources to meet unlimited wants
entrepreneur
a person who organizes and manages any enterprise, especially…
profit
the monetary surplus left to a producer or employer after ded…
22 terms
Economy
Currency... Currency is money. Most count…
Income... The amount of money people earn…
Budget... A budget helps people spend mon…
Scarcity... This means there are not enou…
Currency... Currency is money. Most count…
Income... The amount of money people earn…
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…
17 terms
Population, Economy, and Government
Primary Industries
Secondary Industries
Tertiary Industries
Quaternary Industries
Industries dealing with the extraction or collection of raw m…
An industry that assembles, processes, or converts raw or sem…
An industry that provides services, usually in the form of in…
Services provided by professionals with specialized skills or…
Primary Industries
Industries dealing with the extraction or collection of raw m…
Secondary Industries
An industry that assembles, processes, or converts raw or sem…
19 terms
Economic Vocabulary
Renewable Resources
Nonrenewable Resources
Command Economy
Mixed Economy
Natural resources that can be replaced, solar, wind etc.
A natural resource that cannot be replaced quickly. Coal, oil…
An economic system in which the government makes all economic…
an economic system that combines private and state enterprises
Renewable Resources
Natural resources that can be replaced, solar, wind etc.
Nonrenewable Resources
A natural resource that cannot be replaced quickly. Coal, oil…
9 terms
Resources and Economics
Natural resources
Economy
Economic system
Command system
Something found in nature that is necessary or useful to humans
A system for producing and exchanging goods and services amon…
A way people use resources to make and exchange goods
An economic system in which the production of goods and servi…
Natural resources
Something found in nature that is necessary or useful to humans
Economy
A system for producing and exchanging goods and services amon…
24 terms
Economy
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
10 terms
Resources and Economies
Natural Resources
Economy
Economic System
Market Economy
Something that is found in Nature that is necessary or useful…
A System for producing and exchanging goods and services amon…
A way people use Resources to make and exchange goods
an Economic system in which the production of goods and servi…
Natural Resources
Something that is found in Nature that is necessary or useful…
Economy
A System for producing and exchanging goods and services amon…
8 terms
Social Studies Ch 7 L3 Exchangibg Goods and Services
barter
supply
demand
import
exchange of goods and services using no money
AMOUNT of a good or service that people can sell
amount of a good or service that people WANT and can buy
BRING products and resources into one country from another
barter
exchange of goods and services using no money
supply
AMOUNT of a good or service that people can sell
Colorado Economic Vocabulary 4th Grade
Natural resource
capital resource
human resource
scarcity
something found in nature that people can use
a man-made resource used for the generation of income
a resource that involves the knowledge, skills and motivation…
fewer good or resources are available than the demand for them
Natural resource
something found in nature that people can use
capital resource
a man-made resource used for the generation of income
19 terms
Economy Vocabulary
Economy
Primary Industries
Secondary Industries
Tertiary Industries
The system for making and spending money
Economic activities that directly involve natural resources o…
Economic activities that change raw materials created by prim…
Economic activities that handle goods that are ready to be so…
Economy
The system for making and spending money
Primary Industries
Economic activities that directly involve natural resources o…
9 terms
Social Studies
Natural Resource
Economy
Economic System
Command Economy
Something that is found in nature that is necessary or useful…
A system for producing and exchanging goods and services amon…
A way people use resources to make and exchange goods.
An economic system in which the production of goods and servi…
Natural Resource
Something that is found in nature that is necessary or useful…
Economy
A system for producing and exchanging goods and services amon…
37 terms
Economy Vocabulary
Economy:
Primary Industries
Secondary Industries
Tertiary Industries
The system for making and spending money
Economic activities that directly involve natural resources o…
Economic activities that change raw materials created by prim…
Economic activities that handle goods that are ready to be so…
Economy:
The system for making and spending money
Primary Industries
Economic activities that directly involve natural resources o…
5 terms
5th Social Studies C1 L3
region
economy
specialization
consumer
an area with certain characteristics that set it apart from s…
the system people use to produce goods and services
the result of people making the goods they are best able to p…
a person who spends money on goods and services
region
an area with certain characteristics that set it apart from s…
economy
the system people use to produce goods and services
7 terms
S.S. Economy
Market economy
Traditional economy
Command economy
Mixed economy
people are free to buy or sell goods and services at their ow…
based on customs and beliefs that have been handed down from…
the government makes all economic decisions.... el gobierno toma…
a command and market economy
Market economy
people are free to buy or sell goods and services at their ow…
Traditional economy
based on customs and beliefs that have been handed down from…
18 terms
Social Studies Unit 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…
SW Asia Economy and Government
traditional economy
command economy
market economy
mixed economy
people produce only what they need to survive by farming, hun…
a system where the government controls all factors of the eco…
a system where economic decisions are based on what people wa…
an economy that falls somewhere in between a pure market and…
traditional economy
people produce only what they need to survive by farming, hun…
command economy
a system where the government controls all factors of the eco…
20 terms
7th grade economic systems
Barter System/ Traditional Economy
Market Economy
Capitalist economy
Closed market
an economic system based on the exchange of goods and service…
the production of goods and services is determined by the sup…
an economic system in which the businesses of a nation or are…
an economic market in which imports and exports are heavily r…
Barter System/ Traditional Economy
an economic system based on the exchange of goods and service…
Market Economy
the production of goods and services is determined by the sup…
17 terms
Economic Resources & Systems
Scarcity
Factors of Production
Natural Resources
Human Resources
the shortage of economic resources
The economic resources used to produce goods and services
Raw materials found in nature used to produce goods
the knowledge , efforts, and skills people bring to their wor…
Scarcity
the shortage of economic resources
Factors of Production
The economic resources used to produce goods and services
18 terms
social studies - economy 5th grade
economy
industry
goods
services
careful and wise use of resources
making, selling and moving of goods and services
items that are raised, harvested, mined or made
work done by other people
economy
careful and wise use of resources
industry
making, selling and moving of goods and services
10 terms
Greek Economy
shortages
supply
surplus
demand
conditions in which there is not enough of something
The amount of goods available
A situation in which quantity supplied is greater than quanti…
The desire to own something and the ability to pay for it
shortages
conditions in which there is not enough of something
supply
The amount of goods available
10 terms
Social Studies- Resources and Economics vocabulary
natural resource
economy
economic system
command economy
something that is found nature that is necessary or useful to…
a system for producing and exchanging goods and services amon…
a way people use resources to make and exchange goods
an economic system in which the production of goods and servi…
natural resource
something that is found nature that is necessary or useful to…
economy
a system for producing and exchanging goods and services amon…
18 terms
Economy Terms
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…
26 terms
BizTown Community and Economy (Social Studies)
Business
Capital Resources
Circular Flow
Citizens
A company that sells goods and/or services.
Things made by people and used to produce goods or offer serv…
A model of the movement of goods, services, resources, and mo…
Members of a town, city, county, state, or country. Citizens…
Business
A company that sells goods and/or services.
Capital Resources
Things made by people and used to produce goods or offer serv…
37 terms
Economy
traditional economy
command economy
quota
market economy
An economy in which production is based on customs and tradit…
An economic system in which the government controls a country…
A limit placed on the quantities of a product that can be imp…
Economic decisions are made by individuals or the open market.
traditional economy
An economy in which production is based on customs and tradit…
command economy
An economic system in which the government controls a country…
12 terms
Government & Economy
Democracy
Communisim
Primary Industry
Secondary Industry
Form of government in which the people elect leaders and rule…
A political system in which the government owns all property…
Use natural resources to make money.
Use raw materials to produce or manufacture something new
Democracy
Form of government in which the people elect leaders and rule…
Communisim
A political system in which the government owns all property…
8 terms
Chapter 5.1
Economy
Economics
Adam Smith
Classical Economics
social system that converts resources into goods and services.
the study of how people decide to use potentially scarce reso…
...
...
Economy
social system that converts resources into goods and services.
Economics
the study of how people decide to use potentially scarce reso…
Economic system a system of production and exchange of goods and services as well as allocation of resources in a society. traditional economy The original economic system in which beliefs, traditions, and customs shape the goods a
Economic system
traditional economy
command economy
market
a system of production and exchange of goods and services as…
The original economic system in which beliefs, traditions, an…
economy in which production, investment, prices, and incomes…
a group of buyers and sellers where the buyers determine the…
Economic system
a system of production and exchange of goods and services as…
traditional economy
The original economic system in which beliefs, traditions, an…
10 terms
Economy
Market Economy
Command Economy
Traditional Economy
Profit
Type of economy where producers and consumers are free to buy…
Type of economy that is controlled and regulated by the gover…
Type of economy where customs and traditions determine the go…
The money made by selling an item for more than it costs to p…
Market Economy
Type of economy where producers and consumers are free to buy…
Command Economy
Type of economy that is controlled and regulated by the gover…
25 terms
Economy
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
10 terms
Economy
economy
Primary Industries
Secondary Industries
Tertiary Industries
a system on spending money
Economic activities that involve natural resources
economic activities that change raw materials created by prim…
Economic activities that handle goods that are ready to be sold
economy
a system on spending money
Primary Industries
Economic activities that involve natural resources
11 terms
huggins
subsistence farming
commercial agriculture
scarcity
communist economy
agriculture that provides only enough for a family to eat not…
the business of producing crops to sell
conflict that exist because wants are unlimited and resources…
a system of government in which a single political party cont…
subsistence farming
agriculture that provides only enough for a family to eat not…
commercial agriculture
the business of producing crops to sell
35 terms
Chapter 3: Louisiana's Economy: Resources and Rewards: Vocabulary
goods
services
consumer
producer
physical items such as food, clothing, cars, and homes
activities people do for others for a fee; examples include m…
one who buys or uses goods or services
the person or business that uses resources to make goods or p…
goods
physical items such as food, clothing, cars, and homes
services
activities people do for others for a fee; examples include m…
11 terms
Transforming resources into goods and services
Resources (inputs)
Factors of production
Production
Output
The elements that go into producing goods and services
The four elements - land, labour, capital and enterprise - us…
The process whereby resources (factors of production) are con…
The finished products resulting from the transformation process
Resources (inputs)
The elements that go into producing goods and services
Factors of production
The four elements - land, labour, capital and enterprise - us…
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
20 terms
Economy
market economy
command economy
mixed economy
GDP
System based on private ownership, free trade, and competitio…
System in which the central government owns all property and…
System that is a mixture of market and command economies
Value of all goods and services produced within a country in…
market economy
System based on private ownership, free trade, and competitio…
command economy
System in which the central government owns all property and…
13 terms
Economies
Communist economy
export
market economy
traditional economy
an economic system in which the production of goods and servi…
a product or resource sold to another country.
An economy that relies on market forces to allocate goods and…
An economy in which production is based on customs and tradit…
Communist economy
an economic system in which the production of goods and servi…
export
a product or resource sold to another country.
11 terms
Stamford's Local Economy
goods
services
consumer
producers
things that are produced in order to be sold
something that we pay someone to do for us
someone who buys and uses goods and services
a person, company, or country that sells goods or services
goods
things that are produced in order to be sold
services
something that we pay someone to do for us
28 terms
Europe: Economy
economic systems
traditional economy
command economy
market economy
traditional, command, and market
found in agricultural societies where people make what they n…
the government controls all production and distribution
supply and demand determines what is produced and sold
economic systems
traditional, command, and market
traditional economy
found in agricultural societies where people make what they n…
22 terms
Economy
economic systems
traditional economy
command economy
Cuba, former Soviet Union, former East…
How a country or region handles the production and consumptio…
This system is found where people live the same way their par…
The government controls what is produced and how it is ... produ…
command economy
economic systems
How a country or region handles the production and consumptio…
traditional economy
This system is found where people live the same way their par…
35 terms
230 Standard 6 Basic Economics limited
needs
wants
goods
services
things that people must have to live - such as food
things that people would like to have but could live without…
things you can see and touch
something that one person does for someone else
needs
things that people must have to live - such as food
wants
things that people would like to have but could live without…
22 terms
Economic Vocab
Embargo
Quota
Tariff
Trade Barrier
trade barrier in which nations refuse to trade with other nat…
a trade barrier where limits are placed on how much of a prod…
a trade barrier in which a government charges a fee (tax) to…
any type of limitations placed on the exchange of goods and s…
Embargo
trade barrier in which nations refuse to trade with other nat…
Quota
a trade barrier where limits are placed on how much of a prod…
12 terms
Ch. 3, Sec. 3 Quizlet
natural resource
economy
economic system
command economy
something that is found in nature that is necessary or useful…
a system for producing and exchanging goods and services amon…
a way people use resources to make and exchange goods
an economic system in which the production of goods and servi…
natural resource
something that is found in nature that is necessary or useful…
economy
a system for producing and exchanging goods and services amon…
26 terms
Economy
Economic System
Traditional Economy
Command Economy
Market Economy
every country decides how to distribute its resources to meet…
system found in agricultural societies where people live the…
the government controls what is produced and how it is produc…
economic decisions are based on what its people want to buy a…
Economic System
every country decides how to distribute its resources to meet…
Traditional Economy
system found in agricultural societies where people live the…
16 terms
Natural Resources and economies
natural resources
raw materials
recyclable resources
nonrenewable resources
Anything from the earth people use in meeting their needs for…
A resource that must be changed to be useful
A resource that recycles do you environment naturally
A resource that when it is used up is gone forever
natural resources
Anything from the earth people use in meeting their needs for…
raw materials
A resource that must be changed to be useful
12 terms
Social Studies Vocabulary 8.17.15
Natural resources
Human resources
Capital resources
Scarcity
Materials or substances such as minerals, forests, water, and…
people who provide labor, knowledge, and skills
The tools, equipment, and buildings that are used to produce…
Not having enough resources to satisfy every need.
Natural resources
Materials or substances such as minerals, forests, water, and…
Human resources
people who provide labor, knowledge, and skills
11 terms
Economics
economic system
economic activity
levels of economic activities
primary economic activities
the way a nation decide to produce and exchange goods or serv…
human actions that use natural resources to produce goods or…
all economic activities can be classified into 3 levels, base…
uses natural resources most directly (growing food, fishing,…
economic system
the way a nation decide to produce and exchange goods or serv…
economic activity
human actions that use natural resources to produce goods or…
NFMS 6th grade social studies Economy And Economics SS6E5, SS6E6 and SS6E7
Economy
Economics
Private business
Scarcity
The production, consumption, and distribution of goods and se…
The study of production, distribution, and consumption of goo…
A business owned by citizens personally.
A limited supply of something. A good, service, or productive…
Economy
The production, consumption, and distribution of goods and se…
Economics
The study of production, distribution, and consumption of goo…
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