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Duplicate of Economics Flashcards | StudBud
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Duplicate of Economics
Duplicate of Economics
15 terms
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StudBud Administration
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economics basics
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Any kind of work performed for others
supply
surplus
services
2
A person who buys goods and/or services
consumer
producer
entrepreneur
3
Macro economics means...
Minor agencies
To study a large vast of the country's economy
All the things the population consumes
4
A person who makes things or provides a service for others to use or buy.
producer
capitalist
consumer
5
Micro economic means...
To study small agencies and policies
To study small businesses effect on economy
The study of all economic crisis
6
The act of giving or delivering something to people.
economics
distribution
market
production
7
Something you can use or eat
goods
market
resource
demand
8
When a resource is in limited or short supply.
market
scarcity
demand
9
When a country brings products from another country.
import
export
10
Includes the buildings, land, machines, and other items used to create wealth
GDP
surplus
money
capital
11
A person who starts a business and is willing to accept the risk of loss or gain/profit.
entrepreneur
consumer
producer
12
The total dollar value of all goods and services produced in a country in a single year.
Gross Domestic Product
Production
13
The amount of an item that a store has available to sell.
demand
economics
supply
14
To send a product produced in one country to another
export
import
15
The process of making or growing something for sale or use.
distribution
market
production
