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7 Cards in this Set

  • Front
  • Back
What are natural Resources?
Materials supplied by nature, then used by people
What are goods and services?
Goods are physical items for sale:merchandise,products, and items. A service is an action that benifits others.
What is an apprentice?
a person who is learning an art or skill on the job.
What is unemployment insurance?
a program providing those who are involentarilly out of work with compensation until work is found.
What is FICA?
the only tax paid by both employer and employee, that goes to medicare, and social security.
What are variable expences?
day to day and flexible expences.
What is free enterprise?
the ability to buy or sell any product at anytime