2190109
Description
Flashcards by lizfarlinger, updated more than 1 year ago
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Created by lizfarlinger
about 9 years ago
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| Question | Answer |
| What is economics? | The study of how people use resources to survive and to satisfy their needs and wants. |
| What are human resources? | people who use their skills to produce a good or service |
| Natural resources | resources from nature and are used in their natural form |
| Capital resources | goods produced and used to make other goods or services |
| What is a cash economy? | In a cash economy, income determines the goods and services a consumer can buy |
| What are values? | Values are what influence our spending habits. We usually will spend more on what is important to us. |
| What influences your values? | Family, friends, work, honesty, self reliance and religion |
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