| A | B |
|---|
| services | work that people do for other people |
| economics | the study of how people use, make, transport, buy, and sell goods and services and how people use money |
| free enterprise or market economy | an economic system in which people are free to make, sell, and buy goods and services |
| consumer | a person who pays for goods and services |
| producer | someone who makes a good |
| employee | a person who works for a wage or salary |
| salary | money paid to an employee |
| barter | to trade |
| insure | to protect |
| interest | small amount of money paid paid or charged by a bank |
| debit card | a bankcard used to withdraw or spend money from a bank account |
| credit card | a bankcard that allows a consumer to pay for a purchase over time |
| fee | a small amount of money charged for a specific reason |
| opportunity cost | the lost chance to do something after you have done something else |
| productive resource | something used to produce something else |
| natural resource | somethling found in nature |
| capital resource | something used to make something else |
| labor | the work people do |
| human resource | people who do work |
| limited resource | something Earth can run out of |
| scarcity | when something is in short supply |
| distribution | giving out or delivering |
| advertising | making people aware of a good or service |
| transporting | moving something from one place to another |
| competition | the practice of working against others to succeed |
| supply and demand | an economic rule that describes how prices are affected both by the quantity of a good or service and the level of interest consumers have in it |
| specialization | the act of becoming skilled in a specific area |
