Economics
Chapter Six: Economic systems flashcards

Flashcard
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Social Studies
•
9th - 12th Grade
•
Easy
Doug Bolander
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20 questions
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1.
FLASHCARD QUESTION
Front
Back
The study of how people choose to use resources.
2.
FLASHCARD QUESTION
Front
Economic systems
Back
The means by which countries and governments distribute resources and trade goods and services.
3.
FLASHCARD QUESTION
Front
Economy
Back
An area of the production, distribution, and trade, as well as consumption of goods and services by different agents.
4.
FLASHCARD QUESTION
Front
Scarcity
Back
The limited nature of society's resources.
5.
FLASHCARD QUESTION
Front
Land
Back
Natural resources that are used to make goods and services.
6.
FLASHCARD QUESTION
Front
Labour
Back
The effort that people contribute to the production of goods and services.
7.
FLASHCARD QUESTION
Front
Capital
Back
The machinery, tools and buildings humans use to produce goods and services.
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