| A | B |
|---|
| consumers | the people who buy and use goods and services |
| free enterprise | a type of economic system |
| marketplace | where buying and selling occurs |
| warranty | a guarantee of quality |
| gross domestic product | total dollar value of all goods and services produced in one year |
| economics | field of study that tries to explain how people produce, distribute, and use goods and services |
| producers | companies/individuals who make goods |
| inflation | sharp rise in the price of goods and services |
| recession | period when economy does not grow |
| bait and switch | fraudulent selling tactic |
| economic system | how a country uses resources to provide goods and services |
| marketing | process of getting goods and services to consumers |
| generic product | non brand name product |
| standard of living | based on the amount of goods and services you can buy |
