Economics - Biztown

Front

Human made resources: market, community, profit, capital

Back

capital

Front

A system to buy and sell goods, services, and resources

Back

market

Front

People not being able to have everything they want due to limited resources

Back

scarcity

Front

A place where people live, work, trade, and share

Back

community

Front

An organization or task

Back

enterprise

Front

A model for the movement of goods, services, resources, and money in an economy

Back

circular flow

Front

Money that is leftover after all costs are covered

Back

profit

Front

A company that sells goods and/or services

Back

business

Front

An effort to help people through charitable giving

Back

philanthropy

Front

A choice to give up the next best item to receive an item you value more - the item you leave behind

Back

opportunity cost