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17 Cards in this Set
- Front
- Back
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agrarian economy
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an area or group of people who makes their money by farming or agricultural products
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industrial economy
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an area or group of people who makes their money by manufacturing goods
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assembly line
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method of mass production where each worker has a job before they pass the product to the next worker
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supply and demand
ex:iPhone 4 |
when the price of a product depends on how much there is of an item and how many people want it
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consumer
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A person who buys and uses goods and services
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stock
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Shares of company that is sold to someone who holds part ownership of the company
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investor
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A person who gives money to a business project hoping to make money
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free enterprise
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A system in which people are free to start new businesses and own property
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human resource
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people
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capital resource
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Money, tools, and machines a company uses to provide goods and services
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sweat shop
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A factory or workshop with poor conditions
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monopoly
Example: Time Warner Cable |
A company that has complete control of an entire industry
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poverty
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The condition of having little or no money or goods
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persecution
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Abuse because of race or religion
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Alexander Graham Bell
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invented the telephone, making communication faster and easier
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The Wright Brothers
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invented the airplane, creating a new, faster way to travel
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Thomas Edison
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invented the light bulb that would last long enough to light businesses and homes with the touch of a switch
invented the phonograph |
