| A | B |
|---|
| Resource Markets | Where you exchange your labor for money to spend on goods and services |
| Circular Flow | The movement of money, products, and resources between households and businesses |
| Competition | Rivalry among businesses for the consumer's dollar |
| Economic growth | Increased production of goods and services |
| Medium of Exchange | A function of money that enablespeople to make exchanges more easily with one another |
| Model | A simplified representation or map of an economy |
| Consumers | Money remaining after deducting costs from sales |
| Price System | Provides signals for what will be produced |
| Property right | Ownership of a good or a resource |
| Profit | Money remaining after deduction costs from sales |
