Vocabulary: Part 1
Vocabulary: Part 2
Vocabulary: Part 3
Vocabulary: Part 4
Vocabulary: Part 5
100
Things you wish you could have.
What is wants?
100
Buildings, materials, and equipment used to produce goods and services.
What are capital resources?
100
Tasks that people or machines perform.
What are services?
100
What can be defined by the state taking care of people's needs while the market place takes care of people's wants.
What is mixed economy?
100
Example of a command economy.
What is communism?
200
When the quantity demanded and the quality supplied meet.
What is equilibrium price?
200
The amount of goods and services that producers will provide at various prices.
What is supply?
200
The economic resources used to produce goods and services.
What are factors of production?
200
The amount of money left over after a business has paid for the cost of producing it's goods and services.
What is profit?
200
Your class is called this.
What is Principles of Business, Management and Finance.
300
A person who selects, purchases, uses, or disposes of goods or services.
What is a consumer?
300
Can be physically weighed or measured.
What are goods?
300
Any activity that seeks profit by providing goods or services to others.
What is business?
300
Society's shortage of resources.
What is scarcity?
300
The best high school in the state of Texas.
What is Claude High School?
400
Raw materials found in nature.
What are natural resources?
400
Anything people can use to make or obtain what they need or what.
What is resource?
400
The study of how society chooses to use resources to produce and distribute goods and services for people's consumption.
What is economics?
400
Contest between businesses to win customers.
What is competition?
400
The knowledge, efforts, and skills people bring to their work.
What are human resources?
500
Necessary wants.
What are needs?
500
What Economic decisions are based on.
What is market economy?
500
The amount or quantity of goods and services that consumers are willing to buy.
What is demand?
500
Your favorite teacher.
Who is COACH HOMEN?!
500
Required to meet the changing demands of people.
What are entrepreneurial resources?
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