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Economics

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Question
Answer
show Incentives  
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show Consumer sovereignty  
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show Price  
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show Profit  
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resources, goods, services, and money flowing throughout the economy   show
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what is given up when a choice is made- the highest valued alternative   show
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show Sole proprietorship  
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property owned by individuals and businesses for use without undue interference by the government   show
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show Resources  
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the combining of human, natural, capital, and business resources to make goods and services   show
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a person who takes a risk to produce goods and services in search of a profit   show
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show Scarcity  
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show Competition  
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time, energy, and skills needed to produce goods and services   show
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show Corporation  
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show Natural resources  
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using goods and services   show
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selecting an item or action from a set of alternatives   show
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a form of business owned by 2 or more individuals who share all of the risks and profits   show
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the tools, machinery, factories and money that are used in providing goods and services   show
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show Supply  
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show Demand  
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people who buy and use products   show
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show Producer  
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the management of the resources of a country   show
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Created by: Rtan
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