Urgently Needed: Economics Work
Prof_MaggieDefine the following
- A stock of a resource from which a person or place can be provided with the necessary amount of that resource.
- A certificate issued by a government or private company which promises to pay back with interest the money borrowed from the buyer of the certificate: The city issued bonds to raise money for putting in new sewers.
- Exchange goods without involving money.
- A situation in which unlimited wants exceed the limited resources available to fulfill those wants
- A limiting factor on purchases
5 True/False questions
macro economics → deals with behavior and decision making by small units such as individuals and firms
open market → Exchange goods without involving money.
renewable resource → Any natural resource (as wood or solar energy) that can be replenished naturally with the passage of time
commodities → study of how people and societies use limited resources to satisfy unlimited wants; the management of scarcity and choice
trade → Items businesses sell that can be physically weighed or measured, such as iPods and CDs.
- 9 years ago
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