JA BizTown Community and Economy

Business

• Things made by people an used to produce goods or offer services - a factory is an example
• A person who uses resources to start a business
• A company that sells goods or services
• The labor, skills, and abilities of workers used in production

Free Enterprise

• Decisions are made in markets by people and businesses with little government influence
• The labor, skills, and abilities of workers used in production
• A model of the movement of goods, services, resources, and money in an economy
• A company that sells goods or services.

Resources

• Things people buy and use
• Things that occur in nature and are used to makes goods or provide services
• The people and things needed to produce goods and services
• Work done for others, such as haircuts or car repairs

Goods

• Things made by people and used to produce goods or offer services - a factory is an example
• Things people buy and use
• Things that occur in nature and are used to make good or provide services
• The labor, skills, and abilities of workers used in production

Natural Resources

• Things made by people and used to produce goods or offer services – a factory is an example
• The people and things needed to produce goods and services
• People who buy and use goods and services
• Things that occur in nature and are used to makes goods or provide services

Capital Resources/Goods

• Things people buy and use
• Things made by people and used to produce goods or offer services – a factory is an example
• Work done for others, such as haircuts or car repairs
• A model of the movement of goods, services, resources, and money in an economy

Entrepreneur

• A person who uses resources to start a business
• The labor, skills, and abilities of workers used in production
• A company that sells goods or services
• Decisions are made in markets by people and businesses, with little government influence

Circular Flow

• Things that occur in nature and are used to makes goods or provide services
• The labor, skills, and abilities of workers used in production
• People who buy and use goods and services
• A model of the movement of goods, services, resources, and money in an economy

Consumers

• People who buy and use goods and services
• A company that sells goods or services
• Things people buy and use
• A person who uses resources to start a business

Human Resources

• Things that occur in nature and are used to makes goods or provide services
• Things made by people and used to produce goods or offer services – a factory is an example
• The labor, skills, and abilities of workers used in production
• The people and things needed to produce goods and services