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Vocabulary- Economic Unit

Vocabulary for the factors of production

AB
economicshow people make and spend money
chocolatesweet candy made from cocao beans and milk
entrepreneurowner of a business
profitmoney made from a business
lossmoney lost in a business
productionto make something
consumptionto eat or buy something
capital goodsthingsthat help you get the job done
laborwork people do in a business
free entepriseanyone can start a business
scarcitynot enough of something
advertisesigns about your business
servicea job where someone does something for you
goodssomething made; books, cars
land (natural resources)things in a business made from land


Ms. Rowles

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