UNDERSTANDING ECONOMIES AND ECONOMIC SYSTEMS

THE KNOWLEDGE, EFFORTS, AND SKILLS PEOPLE BRING TO THEIR WORK, ALSO KNOWN AS LABOR

TELL BUSINESSES WHAT TO PRODUCE

WHO IS YOUR FAVORITE TEACHER?

HOW MUCH OF A GOOD OR SERVICE THAT IS AVAILABLE AT DIFFERENT PRICES

CAN BE USED TO SEE THE RELATIONSHIP BETWEEN THE SUPPLY AND THE DEMAND

CHARACTERIZED BY MORE GOVERNMENT OWNERSHIP AND CENTRAL PLANNING

THE TYPE OF ECONOMY WHERE PEOPLE BELIEVE IN DOING THINGS THE SAME AS THEIR ANCESTORS

THE CONDITION THAT EXISTS WHEN WANTS EXCEED RESOURCES AVAILABLE TO SATISFY WANTS.

THE POINT AT WHICH SUPPLY AND DEMAND CURVE MEET.

THE INITIATIVE TO IMPROVE GOODS AND SERVICES OR CREATE NEW ONES

STOCK PRICES ARE GOING DOWN OR FALLING

GOODS PRODUCED AND USED TO MAKE OTHER GOODS AND SERVICES

THE AMOUNT AT WHICH A GOOD OR SERVICE WILL BE SOLD AT IN A MARKET

THE DESIRE TO OWN SOMETHING AND THE ABILITY TO PAY FOR IT.

BUSINESSES AND PEOPLE ENTER THE MARKET IN HOPES OF MAKING MONEY (EARNING A PROFIT)

WHERE SHARES OF STOCKS AND OTHER SECURITIES ARE BOUGHT AND SOLD (OR TRADED).

A COMBINATION OF A COMMAND AND MARKET ECONOMY

STOCK PRICES ARE GOING UP

CENTRAL BANK OF THE UNITED STATES

AN INDIVIDUAL'S NEED OR DESIRE FOR A GOOD OR SERVICE AT A GIVEN PRICE

"GIFTS OF NATURE" THAT ARE PRESENT WITHOUT HUMAN INTERVENTION (EX. LAND)

ECONOMIC SYSTEM THAT IS RUN BY A CENTRAL GOVERNMENT OR AUTHORITY

BUYING AND SELLING OF GOODS AND SERVICES ON THE INTERNET

CHARACTERIZED BY PRIVATE OWNERSHIP OF THE MEANS OF PRODUCTION, SUPPLY AND DEMAND ARE ALLOCATED

PHYSICAL LOCATION WHERE STOCKS ARE LISTED AND BOUGHT AND SOLD (OR TRADED)

HOW MUCH OF A GOOD OR SERVICE A PRODUCER IS WILLING AND ABLE TO PRODUCE AT DIFFERENT PRICES.

THINGS THAT YOU MUST HAVE IN ORDER TO SURVIVE

ONE WHO USE GOODS OR SERVICES

MAKING CHOICES AND SATISFYING THE WANTS AND NEEDS OF CONSUMERS

THINGS YOU THINK YOU MUST HAVE IN ORDER TO BE SATISFIED (NOT NECESSARY FOR SURVIVAL)