Intro to Business

Front

The private ownership of economic resources by individuals rather than by the Government.

Back

Capitalism

Front

An Economy in which resources are owned and controlled by the Government.

Back

Command Economy

Front

A person who buys and uses goods and services.

Back

Consumer

Front

The quantity of a good or service that consumers are willing and able to buy.

Back

Demand

Front

The process of choosing which needs and wants will be satisfied.

Back

Economic Decision Making

Front

Things available to be used to produce goods and services.

Back

Economic Resources

Front

The method a country uses to answer the three Economic questions.

Back

Economic System

Front

Things you can see or touch.

Back

Goods

Front

An Economy in which the resources are owned and controlled by the people of the country.

Back

Market Economy

Front

The point where supply and demand are equal.

Back

Market Price