| A | B |
|---|
| you to do work for that business. | An employer has a business & hires |
| Employers | pay you for your labor |
| Clients pay you | to do a service for them |
| Customers | buy goods from you |
| advertising, word of mouth | How you find clients or customers |
| taxes are monies paid | by people to the government |
| types of taxes | sales, property, income |
| private goods and services | produced privately and sold to consumers |
| examples of private goods | books, cars, clothes, TV, games |
| examples of public goods & services | army, navy, bridges, police protection, highways |
| regulations | controling behavior of buyers & sellers |
| Economic specialization | people produce different goods and services than they consume |
| increases interdependence | Economic specialization |
