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Economics Vocabulary. Capital Resources. Human-made goods, tools, machines and buildings used to produce other goods and services. Abundance. More than enough. Commercial Crop. Raising enough crops to sell. Demand . People's desire for a particular item. Economy.
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Capital Resources Human-made goods, tools, machines and buildings used to produce other goods and services
Abundance More than enough
Commercial Crop Raising enough crops to sell
Demand People's desire for a particular item.
Economy The way people manage money and resources for the production of goods and services
Free Enterprise System Economic system that operates on free competition, in which people start and own businesses with limited government intervention
GPD Per Capita Gross Domestic Products per unit of population; per person
Human Resources Supply of people who can produce goods.
Life Expectancy The number of years that a person may be expected, on average, to live
Literacy Rate Percentage of people who can read and write
Natural Resources Any useful material found in the environment
Productivity Measurement of the amount of work accomplished in a given time.
Resources Things used to produce goods or services
Scarcity Insufficient [not enough] amount or supply
Subsistence Farm Raising enough crops only to support one`s family
Supply The available quantity of a good, product, or resources