Unit 2 Review

Tangible products that people can use or consume. Like food or clothing.

• Goods

• Services

• Consumers

• Free market

Economy in which the government makes all the decisions about what to produce, how to produce it, and for whom it is produced

• Command economy
• Market economy
• Mixed economy
• Traditional economy

Statistics that measure/predict how well or how poorly an economy is doing.

• Market trends
• Economic indicators
• Consumer behavior
• P.E.G.S.

Total value of all goods produced

• Return on Investment (ROI)

• Consumer Price Index (CPI)
• Gross Domestic Product (GDP)
• Net National Product (NNP)

Businesses that produce goods and services. Like farms, factories, banks, etc

• Distributors
• Retailers
• Industries

• Consumers

Percentage of people who can read/write

• GDP

• Economic Indicators

• Life Expectancy

• Literacy Rate

________ is how many people want it

• Supply

• Demand

• Product

• Source

What are the four types of Industries?

• Manufacturing, Retail, Agriculture, Technology
• Construction, Finance, Education, Mining
• Service, Transport, Communication, Hospitality
• Retail, Service, Manufacturing, Agriculture

What Industrial type would I be referring to when I mention the word 'farming'?

• Agriculture
• Construction
• Manufacturing
• Mining

Average amount of money per person

• Manufactoring

• Retail

• GDP per capita

• Economic Indicators