Economics Vocabulary

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Transcript of Economics Vocabulary

Page 1: Economics Vocabulary
Page 2: Economics Vocabulary

The action or process of investing money

for profit or material result or a thing that

is worth buying because it may be

profitable or useful in the future

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Rivalry between two or more people or

groups for an object or money

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Price acts as an incentive to buyers /

sellers, low prices encourage demand

and high prices discourage demand.

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To give an exchange for something else

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The act of specializing or pursuing a

particular line of a product

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A production process in which a worker

or group of workers is assigned a

specialized task in order to increase

efficiency

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Volunteering to exchange goods and

services

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A person who organizes and manages

any enterprise, especially a business