Economics

Any natural resource (as wood or solar energy) that can be replenished naturally with the passage of time (renewable resource or nonrenewable resource)

the quantity of a good or service that businesses are willing and able to provide (supply or demand)

things you can see and touch; they are products you can purchase to meet your wants and needs (goods or services)

the rivalry among businesses to sell their goods and services (competition or resources)

activities provided for the satisfaction of others that are consumed at the same time they are produced (goods or services)

a tax on a sale of merchandise or services (sales tax or income tax)

an economy in which goods and services are produced the way they have always been produced; used in countries that are less developed and are not yet participating in the global economy (traditional, command, market, or mixed)

the quantity of a good or service that consumers are willing and able to buy (supply or demand)

a tax on people's earnings (sales tax or income tax)

a tax based on real estate and other property (income tax or property tax)

an economic concept that states that the price of a good rises and falls depending on how many people want it (demand) and depending on how much of the good is available (supply)

not having enough resources to satisfy every need (surplus or scarcity)

someone who takes a risk in starting a business to earn a profit (consumer or entrepreneur)

an economy in which resources are owned and controlled by the government (traditional, command, market, or mixed)

an economy in which most resources are owned and controlled by individuals; there is a large variety of goods and services are available and there is little government regulation (traditional, command, market, or mixed)

A natural resource that is not replaced in a useful time frame (renewable resource or nonrenewable resource)

an economy that combines elements of the command and market economies (traditional, command, market, or mixed)