4 sectors
What sector involves family
Household
Which sector provides resources in labor then turns around and uses the money (income) received to consume goods and services?
Household
What is an example of a good
phone, food, car, etc.
What sector involves loans, saving account, checking account, etc.
Bank
Who started a business using assembly lines
Henry Ford
What is an example of a service
Barber, repair man, painter, etc.
What sector involves companies like Papa Johns, Best Buy, etc.
Private Buisness
Henry Ford started his own business. People who start businesses are known as what?
Entrepreneur
What is a need
things people need to survive
What sector involves taxes towards educators, policeman, parks, etc.
Government
Who are people that consume the materials that producers make
Consumers
What is a want?
things that people desire but do not need to survive
What are the three types of Government?
Federal, state, local
Who are the people who create the services or materials that consumers buy/use
Producers
People can earn __________ by selling their labor to businesses, by working at a job.
income