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15 Cards in this Set
- Front
- Back
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agriculture
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farming, such as growing crops or raising livestock
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assembly line
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line or moving belt in a factory with each worker doing part of the work to put a product together
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commerce
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having to do with trade - the buying and selling of goods
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conservation
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taking care in the use of natural resources
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consumer
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person who buys and uses goods and services to satisfy wants and needs
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debt
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something owed by one person to another or others
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distribution (of goods and services)
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process by which goods and services get to the consumer, including storing, selling, shipping and advertising
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expenses
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costs
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factories
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places that make goods
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goods (and services)
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things that you can see, touch, feel - tangible, having substance
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human resources
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the people and their work-skilled and unskilled - needed to produce goods and services
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income
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wages earned by people for work done
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industrialization (industry)
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process of building factories, using machinery, creating cities as change is made from hand to machine made goods
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interdependence
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In economics, refers to people's and nations' dependence on each other for work, goods and services
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limited resources
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refers to the fact that a nation or business or person has only a certain amount of natural, capital and human resources - the supply is not endless
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