Econ Systems Vocab
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| Economic System | Producing and distributing goods in an economy
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| Capitalism | Trade in industry that is owned by private owners
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| Capitalist | Wealthy person who invests in a trade based on a capital system
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| Entrepreneur | Person who invests in something that will either gain or loose money
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| Free Enterprise | Freedom of a private business to compete for profit
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| Voluntary Exchange | The free exchange among buyers and sellers
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| Private Property Rights | The right of ownership
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| Profit | To make money off of a product
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| Profit Motive | What motivates the buyer to invest in a business
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| Competition | Rivalry among businesses
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| Consumer Sovereignty | Consumers determine the production of goods
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| Inflation | Increase in price and fall in money value
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| Fixed income | Income that remains the same throughout time
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
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