Consumerism
A person who buys goods or services.
What is a consumer?
Natural resources like trees, water, and oil used to make products.
What is land?
The process of making or growing goods to be sold.
What is production?
The idea that resources are limited while wants are unlimited.
What is scarcity?
Most countries in the world use this type of economic system.
What is a mixed economy?
The belief in buying goods and services that can create opportunities and limitations.
What is consumerism?
The human work needed to create goods and services.
What is labour?
The process of selling and delivering goods from producers to consumers.
What is distribution?
Something that restricts access to resources, choices, or quality of life.
What is a limitation?
This system is described as aiming for equality but limiting freedom.
What is a command economy?
A factor that influences what people choose to buy, such as what matters to them.
What are values?
Money, factories, and machines used to make products.
What is capital?
The process of acquiring goods and services to be used.
What is consumption?
A chance for improvement, benefit, or positive change.
What is a opportunity?
In this system, consumers and businesses drive the economy.
What is a market economy?
A result or effect of consumer choices on people, resources, or the environment.
What are consequences?
Land, labour, and capital together are called these.
What are resources?
Production, distribution, and consumption are all examples of these.
What are processes?
Scarcity explains why individuals, businesses, and governments must do this.
What is make choices?
This system allows businesses to compete while the government protects citizens.
What is a mixed economy?
When individuals or groups stop buying from a company to pressure change.
What is boycott?
Resources that are limited and can run out.
What is finite?
The connections between manufacturers, distributors, and retailers.
What is the supply chain?
A real-world example where limited clean water affects people and communities.
What is the water shortage?
Higher risk, higher competition, and strong consumer choice define this system.
What is a market economy?