Economics Vocab. Review

Front

Monetary payment for goods/services

Back

income

Front

Provides checking & savings accounts and loans to the community

Back

banks

Front

Affects behavior and choices; motivates purchases.

Back

price incentive

Front

A person who organizes resources to produce goods/services for profit.

Back

entrepreneur

Front

Helpful activity; aid others

Back

services

Front

Measures how many quality goods/services can be produced with a set of resources

Back

productivity

Front

Measures quality of life

Back

standard of living

Front

A sum of money demanded by the government for support or services

Back

taxes

Front

Goods and services needed by people

Back

private business

Front

Exchange goods/services for money or other goods/services

Back

trade