Created by Jenny Johnson
about 3 years ago
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wants
amount of a good produced
study of production, consumption, and distribution of wealth
basics of life; food, clothing, shelter
abstaining from consumption; not using
what people want to have produced
amount charged for goods and services
collected by government to provide public services
spending on capital goods
businessman
human resource
people whose wants are satisfied
competition between producers and low prices for consumers
economic system in which the government controls economic decisions
problems of distributing resources to best satisfy wants
problems of distributing resources to best satisfy wants
producers are under-supplying and making a large profit
economic system of the United States
regulates economic system, collects taxes, balances total supply and demand
gold which backs up currency
organized means by which a nation uses its resources to satisfy its wants
economic rivalry among sellers
man-made resources used in production
land, labor, capital goods, entrepreneurship
bank deposits; demand deposits on which people write checks
Human wants must be satisfied by
Society as a whole can never keep up with
Specialization causes people, regions, and countries to become more
When the supply of a product is less than the demand, prices and profits
Taxes the government collects are spent on
What does the Bible advise for economic success?
What is NOT a function of money?
What is created by mass production?
The borrower is
A tithe means
What are 4 important decisions our economic system helps us make?