BizTown Vocabulary (Community and Vocabulary)

A company that sells goods or services

• business
• market
• shop
• store

Things made by people and used to produce goods or offer services - a factory for example

• Renewable Resources

• Human Resources

• Natural Resources

• Capital Resources

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

• Linear Flow Model
• Zigzag Flow Model
• Circular Flow Model
• Spiral Flow Model

Members of a town, city, country, state, or country. Also have certain rights and responsibilities.

• Locals
• Inhabitants
• Residents
• Citizens

A place where people live, work, and trade

• Location

• Community

• House

• School

People who buy and use goods and services.

• Consumers
• Suppliers
• Producers
• Customers

A person who uses resources to start a business

• inventor
• manager
• employee
• entrepreneur

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

• command economy system
• mixed economy system
• centralized economy system
• free enterprise system

Things people buy and use

• Goods
• Merchandise
• Items
• Stuff

The labor, skills, and abilities of workers used in production

• Workforce
• Employee capital
• Labor force
• Human Resources