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SS- Economy

TermDefinition
economy the system in which goods and services are bought and sold
free market economy an economy where choices are left up to each buyer and seller
goods items that can be bought, sold, and traded, such as food and computers
market a place where buyers and sellers come together
scarcity when people want more things than they can actually have
services tasks you pay someone to do for you
need something someone must have to live
want something people would like to have
producer someone who makes or grows goods, or offers services
consumer someone who buys goods or services
Created by: Miss Saha
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