Economic Vocabulary Words 1 - …
Economic Vocabulary 2019
1. Economics- the study of how people meet their wants and needs
2. Supply – how much of a good is available
3. Demand – how much of a good people want
4. Producers- people or businesses that make and sell products
5. Consumers- people or businesses that buy or consume products
6. Gross Domestic Product (GDP)- the total value of all the goods and services produced in a country in one year
7. Standard of living: the basic economic level of people in a country
8. Natural Resources- are those things found in and on the earth, such as water, oil, and sunlight
9. Exports- goods and services a country produces and sells to other countries
10. Imports- goods and services brought in from other countries
11. Tariff- a tax on imports
12. Command economy- an economy where the central government makes all of the economic decisions
13. Traditional economy- an economy in which people make economic decisions based on their customs and habits
14. Market economy- an economy in which individual consumers and producers make economic decisions (also called capitalism or free market)
15. Mixed economy- an economy that combines elements of traditional, market, and command economic systems
16. quotas – a limit to the number of imports that may enter a country
17. embargo – a government order stopping trade with another country
18. human capital – workers of a business or country including their education, training, skills, and health
19. physical capital – the factories, machines, technologies, buildings, and property needed by businesses to operate
20. entrepreneur – the person who takes a risk and provides the money to start and own a business
21. trade barriers – rules used to try to limit trade with other countries
22. Exchange rate- the price of one nation’s currency in terms of another nation’s currency
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related searches
- 4th grade vocabulary words printable
- free printable vocabulary words worksheet
- 4th grade vocabulary words and definitions
- high vocabulary words for essay
- history vocabulary words and definitions
- 5th grade vocabulary words free printable
- 100 vocabulary words for college
- 100 vocabulary words with definitions
- vocabulary words and definitions worksh
- strong vocabulary words for essays
- vocabulary words for writing essays
- basic economic vocabulary terms