Planet Money Makes a T-shirt Vocabulary

the wealth of a country or its way of producing wealth; natural resources such as oil, or human resources such as the workers are both examples

• resources

• taxes

• expenditures

goods used in the production of other goods, such as raw materials, buildings, or machinery, but usually not including land or money

• capital resources

• human resources

people who have the ability to work; one of the essential components of an economic system

• capital resources

• human resources

cost of charges for purchases of goods or services: money spent in order to buy or do something else; expenditures

• expenses

• assets

something valuable or useful; something that has money value

• expenses

• assets

a person who uses up or buys good and services

• consumer

• producer

a system in which each worker does a portion of the final job; the total job is broken down into many parts and each is performed by some of the workers

• division of labor

• gender based division of labor

a person who works for some person or business for pay

• employee

• employer

a person of business that pays a person or group of people to work

• employer

• employee

merchandise; things that are sold, material output such as cars, clothing, tools

• goods

• services