{"id":679,"date":"2019-01-24T14:50:13","date_gmt":"2019-01-24T19:50:13","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/biggars\/?p=679"},"modified":"2019-01-24T14:50:13","modified_gmt":"2019-01-24T19:50:13","slug":"econ-chapter-1-2-vocab-terms","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/biggars\/2019\/01\/24\/econ-chapter-1-2-vocab-terms\/","title":{"rendered":"Econ Chapter 1.2 Vocab Terms"},"content":{"rendered":"
    \n
  1. command: a want<\/li>\n
  2. good: a product that is useful, kind of scarce, and transferable to others<\/li>\n
  3. consumer goods: goods intended for final use by people<\/li>\n
  4. consumers: people who use or consume goods to satisfy their wants and needs<\/li>\n
  5. durable good: lasts for at least 3 years<\/li>\n
  6. nondurable good: lasts fewer than 3 years<\/li>\n
  7. service: work\/labor performed by someone<\/li>\n
  8. value: worth in terms of dollars<\/li>\n
  9. market: place where buyers and sellers exchange<\/li>\n
  10. monetary: having to do with money<\/li>\n
  11. paradox of value: contradiction between essential items and nonessential items<\/li>\n
  12. utility: useful and provide satisfaction<\/li>\n
  13. exchange: a trade<\/li>\n
  14. wealth: having a lot of money<\/li>\n
  15. funds: money<\/li>\n
  16. economic growth: increase in a nation’s total output of goods and services over time.<\/li>\n
  17. productivity: how well something does or sells<\/li>\n
  18. specialization: to focus and be good at one thing<\/li>\n
  19. human capital: the sum of people’s skills, health, knowledge, and motivation<\/li>\n
  20. economic interdependence: when 2 or more businesses or countries need each other to make money<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    command: a want good: a product that is useful, kind of scarce, and transferable to others consumer goods: goods intended for final use by people consumers: people who use or consume goods to satisfy their wants and needs durable good: lasts for at least 3 years nondurable good: lasts fewer than 3 years service: work\/labor […]<\/p>\n","protected":false},"author":2107,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-679","post","type-post","status-publish","format-standard","hentry","category-econ"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts\/679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/users\/2107"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/comments?post=679"}],"version-history":[{"count":1,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts\/679\/revisions"}],"predecessor-version":[{"id":680,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/posts\/679\/revisions\/680"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/media?parent=679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/categories?post=679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/biggars\/wp-json\/wp\/v2\/tags?post=679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}