Term
|
Definition
| the organized way a nation provides for needs and wants of it's people |
|
|
Term
|
Definition
| all the things used in producing goods and sevices |
|
|
Term
|
Definition
| when they talk about resouces |
|
|
Term
|
Definition
| physical development of a country |
|
|
Term
|
Definition
| refers to the skills of people who are willing to invest their time and money to run a business |
|
|
Term
|
Definition
| the difference between wants and needs and available resouces |
|
|
Term
|
Definition
| traditions and rituals answer the basic questions of what, how , and for whom |
|
|
Term
|
Definition
| system in which a country's government makes economic decisions and decides what, when and how much will be produced and distributed |
|
|
Term
|
Definition
| output per worked hour that is measured over a defined time |
|
|
Term
| gross domestic product (GDP) |
|
Definition
| the output and services produced by labor and property located with in a country |
|
|
Term
|
Definition
| total dollar value of goods and services prduced abroad by us citizens and companies |
|
|
Term
|
Definition
|
|
