Exploring Economics

things we desire that are not essential are

an increase in the ability to produce goods and services over time is

a market with a small number of firms

Most key decisions are made by business owners and consumers.

willingness of people to organize,operate,and assume the risks involved with business ventures 

Central planners make the important decisions about what, how, and for whom to produce. 

is a product market served by only one firm

physical items produced in our economy

any form of government assistance for those with financial needs

a for-profit business firm owned by 2 or more people 

the quality of being fair and just

the term for what happens when you give up something else is a 

anything drawn from nature for use in the production of goods and services is from

the basic elements from which all goods are produced

is a business firm owned by 1 person