Unit 1 Community and Economy

Front

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

Back

Circular Flow

Front

A system in which economic decisions are made by people and businesses, with little government influence.

Back

Free Enterprise

Front

What does philanthropy mean?

Back

The effort to increase the well being of others

Front

A person who creates or supplies goods or services.

Back

Producer

Front

People who buy and use goods and services.

Back

Consumers

Front

Payments that citizens and businesses are required to make to a government to pay for goods and services.

Back

Taxes

Front

Merchandise and skills offered for a price.

Back

Private Goods

Front

Goods and services provided by the government for the use of all people.

Back

Public Goods

Front

If your paycheck is $50 and you pay a 10% tax. What is your net pay?

Back

$45

Front

The amount of money an employee receives after taxes and other deductions are taken from a paycheck.

Back

Net Pay