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geography lesson 6 vocab MORGAN
Game Code: 171062
English
17
Public
geography
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Shannon Cross
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Share geography lesson 6 vocab MORGAN
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what is a desire for a good or service
demand
15
general increase of price
Inflation
15
Economic traditions based on a group, culture/value
Traditional economy
15
A plan to keep track of income and spending
Budget
15
Combination of command and market economies
Mixed economy
15
money earned by selling goods/services
revenue
15
study of how people meet wants and needs
economics
15
people or business that buy a good/service
consumer
15
economic in which individual consumers and producers make economic decisions
Market economy
15
economic system where the central government makes all decisions
command economy
15
Money subtracted after paying for production
profit
15
people or business that makes a good/service
producer
15
ability to produce a good or service
supply
15
arrangement in which a buyer can borrow to purchase something and pay later
credit
15
the cost of hat you give up by purchasing something else
opportunity cost
15
act of concentrating on a limited good/service
specialization
15
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