Intro Econ Vocab

Front

Define Economy:

Back

Wealth and resources of a region.

Front

Define Economics:

Back

The study of how and why the economy works.

Front

Opportunity Cost:

Back

Tradeoffs occur when giving up one thing for another.

Front

Scarcity:

Back

Limited resources.

Front

Only rule of Mr. Dai'Re's class

Back

Respeck

Front

Example of the economy?

Back

Chart of how much money people make in Fresno.

Front

Services are

Back

Intangible

Front

Not a factor of production:

Back

Money

Front

Market Economy is mainly about

Back

choice

Front

In a command economy, who is in charge?

Back

The government