Economics Unit Level 1 Review

tangible, or touchable, items that can be bought or sold

• goods

• services

• industry

• capital

intangible actions people perform; help or work provided by others

• goods

• service

• industry

• capital

all types of businesses that are related to the same good or service

• capital

• entrepreneur

• economy

• industry

money & manmade objects owned by a business to help make a product or perform a service

• entrepreneur

• industry

• capital

• economy

a person who takes the risk & starts a business in hopes of earning a profit

• service

• entrepreneur

• capital

• industry

a system for how goods & services are produced & distributed in a society

• economy

• industry

• capital

• barter

electronics, clothing, vehicles, and food are examples of...

• services

• economy

• capital

• goods

military, mechanics, doctors, and mayors are examples of...

• services

• goods

• economy

• industry

All businesses related to cars would be considered an auto...

• service

• good

• capital

• industry

tools, cash, buildings, and computers are examples of...

• goods

• capital

• industry

• services