
2.02 Pt 3 Vocab
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Other
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12th Grade
•
Easy
Tiffany Clark
Used 1+ times
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14 questions
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1.
FLASHCARD QUESTION
Front
Consumption
Back
The process or activity of using goods and services
2.
FLASHCARD QUESTION
Front
Distribution
Back
The process or activity by which income is divided among resource owners and producers
3.
FLASHCARD QUESTION
Front
Economic activities
Back
Consumption, production, exchange, and distribution
4.
FLASHCARD QUESTION
Front
Economics
Back
The study of how to meet unlimited, competing wants with limited resources
5.
FLASHCARD QUESTION
Front
Economizing
Back
Deciding which goods and services will be purchased / provided for the most satisfaction; deciding how scarce resources will be used
6.
FLASHCARD QUESTION
Front
Exchange
Back
The process of trading one good/service for another
7.
FLASHCARD QUESTION
Front
Free goods
Back
Items that can be obtained without money
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