Front

Refers to money; specifically financial assets or the value of someone’s assets.

Back

Capital

Front

A system of economics based on private ownership of businesses and products.

Back

Capitalism

Front

Development and movement of goods/services in an economy

Back

Chain of Production

Front

Study of how society manages resources for goods and services

Back

Economics

Front

Total market value of all goods/services produced by a country in a period

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Gross Domestic Product

Front

Interaction among countries

Back

Globalization

Front

Dependence on other countries for trade in goods and services

Back

Interdependence

Front

Process to control the use of goods/services during scarcity

Back

Rationing

Front

Limited resources & unlimited wants

Back

Scarcity

Front

Economic system with public or collective ownership of resources and production.

Back

Socialism