<\/p>\n
Economy<\/u>– system of producing, distributing and consuming goods\/services<\/p>\n
making products, buying and using products,\u00a0 movement and selling of products<\/p>\n
Producers<\/u>– people who make or provide the goods or services<\/p>\n
Consumers<\/u>– people who purchase or use the goods and services<\/p>\n
Goods<\/u>– products, things that people buy\/purchase<\/p>\n
Services<\/u>– a job or duty that is performed for the consumer<\/p>\n
Currency<\/u>– type of money used in a country<\/p>\n
Trade<\/u>– exchange of products for money<\/p>\n
Barter<\/u>– trading goods for other goods<\/p>\n
Resources<\/u>– things used<\/p>\n
Natural resources- plants, animals, minerals, water, and soil<\/p>\n
Human Resources- people that are needed to do the work<\/p>\n
Capital resources- equipment used to make the goods<\/p>\n
Opportunity Cost<\/u>– the decision to use less or save<\/p>\n
Students started their fold-ables in class. They were to create their fold-ables: vocabulary words, definitions, draw and color and image that represents their vocabulary words on the inside flap. DUE MONDAY 11\/05\/2018!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Economy– system of producing, distributing and consuming goods\/services making products, buying and using products,\u00a0 movement and selling of products Producers– people who make or provide the goods or services Consumers– people who purchase or use the goods and services Goods– products, things that people buy\/purchase Services– a job or duty that is performed for … Continue reading