Human Resources
Interdependence
Market
Mixed
Supply
Market Economy
Specialization
Capital Resources
Natural Resources
Command Economy
Economic Resources
Scarcity
Demand
Money Currency
A medium of exchange used to buy and sell resources, goods, or services that has a standardized value and can be stored for future use.
Goods made and used to produce other goods and services.
How much people want a good or service.
The people who make up the workforce of an organization, business sector, or economy.
Any place or system that allows buyers and sellers to exchange goods and services.
The human, natural and capital resources people use to produce goods and services
The amount of a good or resource available.
resources are limited
People, businesses, and nations depend on the goods and services of others to satisfy the wants they cannot satisfy on their own.
A system in which individuals and businesses make most of the major decisions about production and distribution of goods and services
A material source of wealth that is provided by nature and has economic value.
The government owns most businesses and makes most economic decisions
People focus on producing a few things instead of making everything they want by themselves.
A system in which economic decisions are made by individuals, businesses, and government.
