Economy Vocab
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| economy | the system in which a country makes and manages goods, services, resources, and money
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| entrepreneur | a person who uses resources to start a business
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| free enterprise | a type of economy in which economic decisions are made by people and businesses, with little government influence
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| product | a good produced and offered for sale
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| producer | a person who creates or supplies goods and services (business)
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| scarcity | a condition in which people cannot have everything they want because of limited resources
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| profit | the amount of money left after all business expenses have been paid
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| consumer | people who buy and use goods and services (citizens)
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| labor | work produced by human resources, or people
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| goods | things people buy and use like school supplies or clothing
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| services | work people pay other people to do for them, such as haircuts or car repairs
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| revenue | the total amount of money a business makes from their sales (price of product x total number of product sold)
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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.
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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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