ZARSE E P F Unit 1 2nd

Entrepreneurs are people who start their own ___.

An economy that mixes two types of economies (ex. capitalism mixed w/ socialism)

The degree of wealth and material comfort available to a person

This government/economic type is the best example of a centrally-planned economy.

Non-physical commodities that companies provide to consumers

This type of capital (wealth) refers to machinery, factories, tools, etc.

Physical commodities companies produce to sell to consumers

Economic system in which everyone in the society equally owns the factors of production

Work done by a person

Our country has which type of economy?

A place/platform where people buy and sell goods and services

The study of various types of economies

Whenever demand for a good is greater than the quantity supplied at the market price

This type of economy is agricultural; people barter for goods, and little surplus is produced.

This type of capital is intangible: knowledge, skills, education, etc.

Money made by a business is called ___.

A naturally occurring limitation on a good that cannot be replenished (fruit out of season)