Economics

Front

The study of how people choose to use their limited resources to satisfy unlimited wants:

Back

Economics

Front

economy that embraces economic freedom (free market) when it comes to capital use, but it also allows for government intervention for the public good.

Back

Mixed Economy

Front

requirements for survival, such as food & water

Back

needs

Front

things that we would like to have, such as entertainment

Back

wants

Front

work performed by a person for someone else

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services

Front

Tangible products that we use to satisfy our wants and needs

Back

goods

Front

rewards that are offered to try to persuade people to take certain economic actions

Back

incentive

Front

The payment people receive when they lend money

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interest

Front

A sustained increase in prices

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inflation

Front

To set aside income for later use

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savings