Social Studies Economy

The process of hiring people to work outside of a company

• division of labor

• outsourcing

• productivity

• producer

What is the separation of a work process into a number of different jobs?

• division of labor

• outsourcing

• productivity

• profit

What is the difference between a business's total sales and the business's total expenses?

• Producer

• Income

• Productivity

• Profit

What is the amount of money a company can produce with a certain amount of labor?

• incentives

• Producer

• Innovations

• productivity

What is a new invention or way of doing things?

• Incentive

• producer

• Innovations

• income

What is the use of public notices to bring attention to a product or service?

• Advertising

• Producer

• Income

• Incentives

Who is a person or company who makes a good or a service to sell to others?

• Incentives

• Income

• Producer

• Outsourcing

What are things that encourage us to take an action, such as making a purchase?

• Producer

• Innovations

• Incentive

• Income

What do most people need to provide for their needs?

• Profits

• Democracy

• Advertising

• Income

What are some examples of a needs?

• Food

• Shelter

• Clothing

• All of the above