Chapter19 Vocabulary
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| Goods | show 🗑
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| show | Work performed by a person for someone else
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| Factors of Production | show 🗑
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| Natural Resources | show 🗑
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| Labor | show 🗑
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| Capital | show 🗑
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| show | Individual who starts a new business, introduces a new product and improves a management technique
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| Gross Domestic Production (GDP) | show 🗑
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| Standard of Living | show 🗑
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| Market | show 🗑
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| show | A market where productive resources are brought and sold
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| Product Market | show 🗑
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| Productivity | show 🗑
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| Specialization | show 🗑
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| show | The breaking down of a job into separate, smaller tasks to be performed individually
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| Economic Interdependence | show 🗑
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| show | A system in which private citizens own most, if not all , of the means of production and decide how to use them within legislated limits
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| Free Enterprise | show 🗑
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| show | the role of consumer as the ruler of the market, determining what products will be produced
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| Private Property Rights | show 🗑
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| Competition | show 🗑
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| show | The money a business receives for its products or services over and above its costs
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| show | The driving force that encourages individuals and organizations to improve their material well-being
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| Voluntary Exchange | show 🗑
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| show | Economic system where government should not interfere in the marketplace
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
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.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
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:
Sarah Ellerba
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