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Economy

  •  English    19     Public
    Some Vocabulary and Definitions from the Economy Unit
  •   Study   Slideshow
  • Who is a consumer?
    someone who buys or uses goods and services
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  • Who is a producer?
    A producer is a person who makes goods or services to sell.
  •  15
  • What is free enterprise (market economy)?
    An economy in which people are free to start their own businesses or to produce whatever good or service they want.
  •  15
  • What is command economy?
    An economy in which the government decides what goods and services can be sold.
  •  15
  • What is private property?
    The land or goods that people or companies own.
  •  15
  • Who is an individual?
    A single human being
  •  15
  • What means to involve?
    It means to incluce
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  • What is mining?
    Mining is the process of digging or extracting valuable materials, such as minerals, metals, and fossil fuels, from the ground.
  •  15
  • What is construction?
    Construction is the process of building things like houses, buildings, roads, and bridges. It involves many different steps, such as designing the structure.
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  • What are services?
    Services are activities that people do for others to help them meet their needs or wants.
  •  15
  • What is manufacturing?
    Manufacturing is the process of creating products by using raw materials and turning them into finished goods.
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  • What is agricultural sector?
    The agriculture industry is a group of industries that are involved in growing and producing crops and raising animals for food, clothing, and other products.
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  • What is transportation sector?
    The transportation sector is a group of industries that are involved in moving people and goods from one place to another.
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  • What is entertainment insdustry?
    The entertainment industry is a group of industries that are involved in providing entertainment to people. This includes things like movies, TV shows, music,
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  • What economy does Midwest mostly have?
    manufacturing and transportation
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  • What economy does Southeast mostly have?
    mining
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