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25 Cards in this Set
- Front
- Back
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a community's system of producing, distributing, and consuming goods and services
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economy
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Physical items such as food, clothing, cars, and homes
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goods
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the work people do for others for a fee
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services
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one who buys or uses goods or services
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consumer
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the person or organization that makes or provides goods or services
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producer
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a gift of nature, part of the natural enavironment; includes the air, the soil, water, and minerals
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natural resources
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the people who provide the labor to produce goods and provide serices
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human resources
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the money and property (factories, tools, bridges, machines and so on) that are used to produce goods and services
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capital resources
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the concept that there are not enough resources (natural, human,and capital) available to satisfy all needs and wants; as a result, choices must be made
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scarcity
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the conctept that businesses and industries in an economy rely on each other and on other economies to succeed
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interdependence
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trading goods and services without money
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barter
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illegal trade
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smuggling
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farming on a large-scale business operation
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agribusiness
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natural resources not replaced by nature once they are taken from the environment
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nonrenewable
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natural resources not replaced by nature once they are taken from the environment
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nonrenewable
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technique used to melt underground sulphur and force it to the surface
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Frasch process
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soft, brownish black coal that burns poorly
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lignite
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plants and animals
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biological resources
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biological resources that replenish themselves in time
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renewable
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smaller, softer trees, mostly pine, that are shredded into pulp to be made into paper
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pulpwood
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Environmental Protection Agency
Federal government agency |
EPA
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Department of Environmental Quality
LA government agency that protects the environment |
DEQ
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gradual wearing away of the land by the action of wind or water
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erosion
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economic policy in which the government strictly controlls resources and markets to gain wealth that it uses to build its military and become even more powerful
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mercantilism
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0ffshore port in the Gulf of Mexico that was constructed to handle extremely deep ships
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Superport
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