Human economics
Who makes a product/service
Entrepreneur
Gain from investment/business
Profit
Any kind of merchandise
Increase in prices
Inflation
Good that is interchangable with other goods
Commodity
Producer
Money a person/company spends more than what they receive
Loss
Limited supply of something
Scarcity
Amount charged over
Interest rate
Exchanging between people
Trade
Who buys a good/service
Consumer
Money gov. collects people/businesses
Taxes
Work performed by others
Service
Increase of production goods/services
Economic Growth
Limit on something
Quota
People depend on each other
Interdependence
Cost of a product/service is desired by buyers
Demand
Choosing a good/service over another
Opportunity Cost
Loans repaid
Debt
Demanding certain amount from citizens
Tax
Person that does something and relies on others to finish
Specialization
Cost of something available
Supply
value of goods and services provided somewhere
GDP (Gross domestic product
Money given in exchange for repayment
Loan
tax imposed by gov. on good/services
tariff