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Chapter 18 19 vocab sheet

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C
Coach Cherry

Key Terms

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ECONOMICS KEY TERMS 1. Economics 2. Scarcity 3. Opportunity cost 4. Capitalism 5. Incentives 6. Factors of production 7. Labor 8. Capital 9. Gross Domestic Product 10. Specialization 11. Free enterprise 12. Warranty 13. Disposable income 14. Discretionary income *Define each word and illustrate 5.

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Chapter 18 19 vocab sheet

  • 1. ECONOMICS KEY TERMS 1. Economics 2. Scarcity 3. Opportunity cost 4. Capitalism 5. Incentives 6. Factors of production 7. Labor 8. Capital 9. Gross Domestic Product 10. Specialization 11. Free enterprise 12. Warranty 13. Disposable income 14. Discretionary income *Define each word and illustrate 5.