VOCABULARY
QUIZ
qEnter Category
100
free and willing exchange of goods and services between buyers and sellers
What is a market
100
what role does consumers play in a circular flow
What is a factor market
100
when the total of goods and services increase over time
how does economic growth occur
200
a market where productive resources are brought and sold
What is factor market
200
what is an income
What is revenues
200
workers earn wages, property owners earn rent, and consumers earn interest in __________ markets
what is factor
300
a reliance on others, as they rely on you, to provide goods and services to be consumed
What is economic interdependence
300
what makes use of differences in skills and abilities
What is division of labor
400
the breaking down of a job into separate, smaller tasks to be performed indiviually
What is division of labor
400
what do individuals who receive their incomes, spend them in
What is product markets
500
the degree to which resources are being used efficiency to produced goods and services
What is productivity
500
what groups affect product markets
What is foreign, consumer, business sectors, and government
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