Economics flashcard review

Front

Doctor: Goods or Service?

Back

Service

Front

Dentist: Goods or Service?

Back

Service

Front

Librarian: Goods or Service?

Back

Service

Front

The company needed the following things to make the bike: wheel, wires, person to build, plastic...these are called the..

Back

expenses

Front

Real items, such as cars, watches, and clothing; things people make

Back

Goods

Front

Money a company earns from selling a product

Back

Income

Front

A company has money left over after paying expenses

Back

profit

Front

Someone who buys and uses goods and services

Back

Consumer

Front

Any money that you earn or receive from someone

Back

Income

Front

A person who owns a business is called...

Back

an entrepreneur