Chapter 18 civics vocab

total market value of all final goods and service produced in a country during a single year

In the aspect of market system, the ____ should be developed.

economic system in which businesses are allowed to compete for profit with minimum interface

The production line involves a high degree of____ of labor

the act of buyers and sellers freely and willingly engaging in market transactions

Since the beginning the United States has had an ____ and knows how to export a lot of goods

Prices are lower when there is ——— among the stores.

system in which private citizens own most of the means of production and decide or to use them

gross domestic product on a per-person basis ;gdp divided by population

A person who starts a new business,introduces a new product,or improves a management technique

the material well-being of an measured by how well its needs and wants are satisfied

the sum of people’s knowledge and skills that can be used to create products

a model showing how goods, services, and money flow among markets in the American economy

The capitalit’s system is based on the _____.

You've no business to be here this is —————.

The product had a really good ____ so the investors were wealthy

an example of a ____ is a target.

Small business owners are happiest when the government maintains its —————— management style.

the breaking down of a job into separate, smaller tasks to be performed individually

The company made a ——— this year.