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Economics

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1.

FREE Enterprise

  • The Economic system that allows people to own any business that is allowed by law.
Photo by paul_appleyard
2.

MARKET ECONOMY

  • Another name for free enterprise.
Photo by TimWebb
3.

ENTREPRENEUR

  • A person who starts his or her own business.
Photo by stevendepolo
4.

HUMAN CAPITAL

  • The people and ideas needed to produce something.
Photo by Paco CT
5.

CAPITAL RESOURCES

  • The machines needed to produce something.
Photo by BLM Nevada
6.

INVESTOR

  • A person or company that invests money.
Photo by free pictures of money
7.

OPPORTUNITY COST

  • The value of what someone gives up in order to buy something else.
Photo by stevendepolo
8.

SPECIALIZE

  • To concentrate on just one activity.
Photo by pelotonphotos
9.

MIGRANT WORKER

  • A person who moves from one place to another to harvest different crops as they ripen.
Photo by amira_a
10.

SERVICE INDUSTRY

  • An industry that serves people.
  • Some examples are: Teachers, Police men, Firefighters.
Photo by Thomas Hawk
11.

COMPETITION

  • The rivalry between two or more businesses going for the same customer.
Photo by PeterThoeny
12.

CORPORATION

  • A business that belongs to many people.
Photo by cliff1066™
13.

ROBOTICS

  • The study of the design of machine.
Photo by NASA Goddard Space Flight Center
14.

MICROTECHNOLOGY

  • The development of tiny machines and objects.
Photo by Oregon State University
15.

BIOTECHNOLOGY

  • Technology that uses living cells to create new medicines.
Photo by Sergei Golyshev
16.

INTERDEPENDENT

  • Relying on one another to meet needs and wants.
Photo by timtak
17.

INTERNATIONAL TRADE

  • Trace between nations.
Photo by archer10 (Dennis) (64M Views)
18.

EXPORT

  • A good sold or traded to another country.
Photo by Drewski2112
19.

IMPORT

  • A good brought in from another country for sale or use.
Photo by aismist
20.

PARTNERSHIP

  • A business run buy two or more people who share the profit and loss.
Photo by Stuck in Customs

Aysha Chaudhry