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8 Cards in this Set
- Front
- Back
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Free Enterprise |
People have the freedom to make economic choices regarding the factors of production. |
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Economic Efficiency |
Using limited resources wisely. |
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Economic Equity |
Fairness and justice in econimcs |
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Economic Security |
Systematically protecting risks. |
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Economic Stabilty |
Maintaining a stable market and reducing extreme rises and fail in the standard of living. |
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Economic Growth |
Producing increasing amounts of goods and services over a long period of time. |
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Economic Trade-Offs |
Deciding what investments and expenditures to allot in an effort to maximize products. |
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NEED, WANT, LUXURY |
- something essential for survival - something you don't need for survival - Something more upper scale than usual |
