Economy 1

The total amount of money received by a company for goods sold or services provided during a certain time period.

• economy

• market economy

• revenue

• profit

• services

Money that is made in a business

• economy

• market economy

• revenue

• profit

• services

Activities performed by people, firms or government agencies to satisfy economic wants.

• economy

• market economy

• revenue

• profit

• services

An economic system where free competition and prices are determined by the interaction of supply and demand.

• economy

• market economy

• revenue

• profit

• services

The way a country uses money and resources.

• economy

• market economy

• revenue

• profit

• services

People who use goods and services to satisfy their personal needs and not for resale or in the production of other goods and services.

• consumers

• producers

• income

• supply

• demand

People and firms that use resources to make goods and services.

• consumers

• producers

• income

• supply

• demand

Payments earned by households for selling or renting their productive resources. May include salaries, wages, interest and dividends.

• consumers

• producers

• income

• supply

• demand

The amount of a good or service that producers are willing and able to offer for sale at each possible price during a given period of time.

• consumers

• producers

• income

• supply

• demand

The quantity of a good or service that buyers are willing and able to buy at all possible prices during a period of time.

• consumers

• producers

• income

• supply

• demand