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Economics Vocabulary
15 cards·by acallahanpv
rewards for choices (example - coupons)
positive incentives
people and businesses that make and sell goods and services
producers
extra money earned from a bank for keeping savings there
interest
the study of how people make and spend money by buying and selling goods and services
economics
the amount of a product to be sold
supply
actual products that people buy and sell (example - apples, a television, etc.)
goods
the plan for tracking how much to spend over a certain period of time
budget
the money that someone earns at a job and brings in
income
the money you keep at a bank or other safe place
savings
when someone spends more money than they have
debt
consequences for choices (example - traffic tickets, fines)
negative incentives
people's desire to buy a product
demand
an action or work that someone provides for someone else (examples - dentist, teacher, etc.)
services
people that buy goods and services
consumers
all the things that people spend their money on
expenses