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EI017 GLOSSARY TERMS 3

AB
Industrial goods: Tangible items that will be consumed by industrial users
Market economy: An economic system in which the questions of what, how, and for whom goods will be produced are answered by individuals and businesses in the marketplace
Medium of exchange: Something of value that can be used to obtain goods and services; most common form is money
Means of production: All the resources required in the production of goods and services
Markets: Arrangements for the buying and selling of goods and services
Natural resources: Items that are found in nature and used to produce goods and services
Producers: The people who make or provide goods and services
Interdependent: Influencing or relying upon one another


Business Marketing Teacher, Career Technical Education
CENTRAL CABARRUS HIGH SCHOOL
Concord, NC

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