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Definition
| things that are required in order to live |
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Definition
| things that add comfort and pleasure to your life |
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Term
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Definition
| Not having enough resources to satisfy the need |
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Term
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Definition
| Raw materials supplied by nature |
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Definition
| People who produce goods and services |
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Definition
| The products and money used in the production of goods and services |
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Definition
| the quantity of a good or service that businesses are willing and able to provide |
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Term
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Definition
| The quantity of a good or services that consumers are willing and able to buy |
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Definition
| The point where supply and demand are equal |
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Term
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Definition
| Give up something to have something else |
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Definition
| Value of the next best alternative that you were not able to choose |
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Term
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Definition
| (GDP) the total value of all final goods and services produced in a country during one year |
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Term
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Definition
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Definition
| The portion of people in the labor force who are not working |
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Term
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Definition
| The movement of the economy from one condition to another and back again |
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Term
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Definition
| An increase in the general level of prices |
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Term
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Definition
| A decrease in the general level of prices |
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Term
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Definition
| The total amount owed by the federal government |
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Term
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Definition
| Government spends less than it takes in |
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Term
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Definition
| Government spends more than it takes in |
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Term
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Definition
| Items bought from other countries |
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Term
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Definition
| Items sold to other countries |
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Term
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Definition
| difference between a countries total imports and exports |
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Term
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Definition
| Restrictions to free trade |
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Term
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Definition
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Term
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Definition
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Term
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Definition
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Definition
| Does business in several countries |
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Term
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Definition
| Value of currency in one country compared with the value in another |
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Term
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Definition
| The duty of a business to contribute to the well-being of a community |
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