Economic
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Economy
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Economic sytem
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Utility
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Value
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Real cost
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Trade off
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Opportunity cost
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Consumer
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Consumption
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Basic problem of economics
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Resources
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Production possibilites
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Trade off to A and B
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Adam Smith
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Laissez faire
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Invisible hand theory
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Revenue
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Profit
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Pure command
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Pure market
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Want
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Need
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Service
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Good
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
Four basic economic questions
The use of goods and services by households
A person or organization that uses economic services or commodities.
Private property, little or no govenrment control,self interest and competition
The value of the next-highest-valued alternative use of that resource
The cost of producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative uses.
economy's finite resources are insufficient to satisfy all human wants and needs.
Desire to have
Used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
Often expressed as an opportunity cost, which is the most preferred possible alternative.
what goods and services and how much of each to produce, how to produce, for whom to produce, and who owns and controls the factors of production
Tangible output of a process that has physical dimensions
Money left after you pay all your cost
Resources
Wealth of nations and the invisible hand theory
Hands off government
Everybody does what they have to do in the economy then the economic interest will grow
Money business brings in
Cannot be weighed or measure
Govenrment
a measure of the benefit provided by a good or service to an economic agent
Wealth and resources of a country or region,terms of production and consumption
Survival like food and water
The goods or services available to individuals and businesses used to produce valuable consumer products.
System which countries and governments distribute distribute resources and trade goods
What you could make
Branch of knowledge concerned with production and transfer of wealth
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