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11 Cards in this Set
- Front
- Back
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Specialization
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Doing one kind of work or selling one kind of good
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Division of Labor
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the division of jobs among workers
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Specialize
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to do just one kind of work or sell ust one kind of product
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Corporation
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a group of workers who own a business together
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Manufacture
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to make goods by hand or by machine
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Free Enterprise
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an economic system in which people are free to start and run their own business
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Scarcity
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a situation in which the supple of a product is not enough to meet the demand for it
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Production
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the process of making goods and services
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Distribution
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the sending of goods to stores to sell to consumers
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Consumer
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the using of goods to meet wants and needs
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Mass Production
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the making of goods in large amounts by machine |
