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Economic Terms PF

Tristan Oberci

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2.Efforts applied to achieve a purpose or result
4.Gift of Nature
6.The quantity and quality of human effort available to produce goods and sevices
8.Income received for entrepreneurial skills and risk taking
9.Keep money for future use
12.Payments for goods and services
17.Second Best (2 Words)
18.Anything generally accepted as final payment for good or service
19.To Buy and Use a good or service
20.Person who desire to conserve their monetary funds to the best of their ability
1.Desires that can be satisfied by consuming or using a good or service
2.People employed to do work, producing good and service
3.Economy that relies on a system of independent market prices to allocate goods (2 Words)
5.Payments for labor services directly yied to time worked, or to the number of units of output produced.
7.Money put into a financial account
10.A Natural Monopoly
11.A conclusion reached after considering alternatives and their results
13.Study of how people firms and societies choose to allocate scarce resources with alternative uses
14.Money paid regularly at a particular rate for the use of borrowed money
15.Use money now to buy goods and services
16.Decision made or course of action taken when faced with a set of alternatives

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