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Economics Terms (Personal Finance)

Sai Fon

Word Bank
Workers, Wants, Wage, Spend, Scarcity, Resources, Regulation, Profit, Productivity, Opportunity Cost, Markets, Budget, Capital, Consume, Deposit, Economics, Incentive, Labor, Market Economy, Costs

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17             18    

3.Payment for worker services directly tied to time worked
5.People employed to do work, producing goods and services
8.Reward, such as money, feeling, that motivates people to do something
11.Economy that relies on a system of interdependent market prices to allocate goods, services, and productivity resources (2 Words)
14.A situation in which a resource had more than one valuable use
15.The basic kinds of resources used to produce goods and services
17.Money put into a financial account
19.Study of people, firms and societies choose to allocate scarce resource with alternative uses
20.Consumer using goods or services
1.The quantity and quality of human effort available to produce goods and services
2.When scarce resources are used for one purpose versus another (2 Words)
4.Places where or by means of which goods and services are exchanged
6.Use money now to buy goods and services
7.Economic regulation and social regulation
9.Amount of output produced per unit of input used
10.To buy and use a good and service
12.Spending and savings plan based on estimated income and expenses
13.Resources and goods made and used to produce other goods and services
16.Amount that must be paid or spent to buy or obtain something
18.Income received for workers skills and risk taking

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