Economic vocabulary
this a view of economic vocab.
Terms
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- management
- someone who organizes the production of a business
- entrepreneur
- a business starter
- consumer
- a buyer of a good or service
- marketable
- an available good or service
- supply
- how much producers will provide the market at a given price
- scarcity
- a time when productive resources don't meet a humans wants
- free enterprise system
- the right to make and own your own business
- demand
- the need of a good or service at a specific time
- production
- the act of making goods and services
- cost
- something someone must give up to get something else
- employee
- someone hired to work for employer or business
- market
- when buyers and sellers communicate and exchange goods and services
- capital
- things made that are used to make other things
- dividend
- profit a stockholder get
- profit
- the amount of money left over after all expences and sales
- employer
- somone who hires people
- stockholder
- a part owner of a business
- economics
- the study of a persons use of recources to meet their needs
- land
- gift of nature
- resource
- anything that relieves a persons want
- labor
- work to make something
- business
- an enterprise which organizes and uses resources to do stuff for the general public
- specialization
- a worker doing a small part of a job so the product come faster
- corporation
- a stockholder owned business