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Slide Notes

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Defition Words

Published on Jan 08, 2016

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PRESENTATION OUTLINE

ECONOMY

A SYSTEM IN WHICH PEOPLE GET THE THINGS THEY WANT OR NEED
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NEEDS

THINGS THAT YOU NEED TO SURVIVE
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WANTS

ARE IDEMS YOU WANT BUT DO NOT HAVE TO HAVE TO SERVIVE

BUDGET

AMOUNT OF MONEY SET TO BUY CERTAIN THINGS

TRADE

PEOPLE AND NATION EXCHANGE GOODS AND SERVICES
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GOODS

THINGS THAT YOU AS PERSON WANT OR NEED
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SERVICES

HAIR DRESSERS,WAITRESSES,SECRTARY.

PRODUCERS

PEOPLE WHO MAKES STUFF TO SELL OR TRADE.

CONSUMER

SOMEONE WHO USES OR PURCHASES GOODS AND SERVISES

SUPPLY

THE AMOUNT OF GOODS SOMEONE HAS IN STALK

DEMAND

WHEN A LARGE AMOUNT OF CONSUMERS DEMAND SOMETHING FROM OTHER PEOPLE

PROFIT

WHEN YOU BUY OR MAKE SOMETHING AND SELL IT TO WERE YOU MAKE A PROFIT WITHOUT LOOSING MONEY

SCARCITY

LIMITED AMOUNT OF RESOURCES.

INTERDEPENDENT

AT LEAST TO PEOPLE/GROUPS DEPENDING ON EACH OTHER.