
Economics Concepts
Flashcard
•
Business
•
9th Grade
•
Practice Problem
•
Medium
Makenna Ollikka
Used 1+ times
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14 questions
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1.
FLASHCARD QUESTION
Front
Economy
Back
The resources and processes involved in the production, distribution, and consumption of goods and services.
2.
FLASHCARD QUESTION
Front
Economic System
Back
The way society organizes production, distribution, and consumption of goods and services.
3.
FLASHCARD QUESTION
Front
Supply and Demand
Back
Economic model of prices determined in a market.
4.
FLASHCARD QUESTION
Front
Competition
Back
A rivalry among products to sell products to consumers.
5.
FLASHCARD QUESTION
Front
Monopoly
Back
When one producer controls all supply of a product or service.
6.
FLASHCARD QUESTION
Front
Crown Cooperation
Back
A company owned by Canada's government to provide essential services.
7.
FLASHCARD QUESTION
Front
Labor Union
Back
An organization of workers that acts to protect workers rights and interests.
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