Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
|
(13.1)economics
|
the study of how people produce, distributes, and use goods and services
|
|
|
economic systems
|
country's way of making choices of how to use it's resources to produce and distributes goods and services
|
|
|
capitalism
|
the free enterprise system, the economic system of the US
|
|
|
free enterprise
|
type of economic system in which individuals or businesses may buy and sell goods and services and set prices with little gov't interference
|
|
|
regulate
|
set rules for prices and wages
|
|
|
command economy
|
type of system in which there is no private enterprise and the gov't makes all key decisions
|
|
|
socialist economy
|
system in which their is private enterprise but the gov't controls key industries and makes many economic descisions
|
|
|
consumers
|
people that buy and use goods and services
|
|
|
producers
|
companies that make or provide goods and services
|
|
|
profit
|
amount of money left after a buisness makes after paying it's expenses
|
|
|
supply
|
amount of goods and services available to sell
|
|
|
demand
|
amount of goods and services that consumers want to buy
|
|
|
(13.2)entrepreneur
|
a person who organizes and runs a business
|
|
|
business plan
|
a written proposal describing a new business to potential lender or invester
|
|
|
Marketing
|
the process of developing, promoting, and distributing goods and services to cusumers
|
