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8 Cards in this Set
- Front
- Back
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Economics |
Study of the choices that individuals and societies make in the production, distribution, and consumption of goods |
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Economy |
Any system for the production, distribution, and consumption of goods and services |
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Good |
Tangible item that people want and for which they will pay |
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Services |
Intangible goods produced by labor for which people except to pay |
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Wnat |
Human desire to have a certain good |
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Market |
Mechanisms that allow people to exchange goods |
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Producers |
People who provide goods |
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Consumers |
People who use goods |
