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Teachers, Nurses, Doctors, Mechanics are all examples of
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
Economic system that is based on individual choice, consumers and producers drive the economy
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
A person who buys goods or services
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
What is the section on the right side of the Circular Flow Model?
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
What is the section on the bottom of the Circular Flow Model?
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
What is the section on the left side of the Circular Flow Model?
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
What are the 2 principles of scarcity?
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
A person who makes goods or provides services are called
People have wants; scarcity affects everyone
Market Economy
Producers
Factor Market
Services
Consumers
Households
Businesses
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