| A | B |
|---|
| economics | study of how people manage their limited resources |
| consumer | user of goods and services |
| cash economy | people exchange money for goods and services |
| free enterprise | system based on private or corporate ownership of businesses |
| basic needs | goods that should be produced |
| technology | how goods are produced |
| credit | any form of delayed payment |
| scarcity | limited quantities of resources |
| barter | exchange of one set of goods for another |
| imports | goods brought in from other countries |
| entrenpreneur | leader who creates new goods or services |
| profit | amount of money a business expects to make |
| surplus | situation in which a quantity supplied is greater than quantity demanded |
| exports | goods sent to other countries |
| supply and demand | when supplies of goods are plentiful, prices drop; when supplies are scarce, prices rise |
| free market | individuals make most of the decisions about economic activities |
| capital | human-made resource that is used to create other goods |
| budget | plan for spending and saving |
