The Internet belongs to everyone. Let’s keep it that way.

Protect Net Neutrality
Loading presentation...

Present Remotely

Send the link below via email or IM


Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.


Economic Terms

Economic Vocobulary

Betsy Skalet

on 27 February 2014

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of Economic Terms



Gross Domestic Product
The amount of goods and services
produced in a country in a year
Money someone gives an individual
in hopes of gaining future returns
command economy
Controlled by the Government
Traditional Economy
An economy in which customs and habits of the past decide what and how goods and services are produced, distributed and consumed
Market Economy
An economy where buyers and sellers figure out the business (changes in price guide what and how goods and services will be produced, distributed, and consumed).
Money used in a particular country to buy goods and services.
Dollar, euro, peso
Trade Barriers
A tax on imports
A government order stopping trade with another country to put pressure on the government of that other country.
A limit placed on the number of imports that may enter the country.
Human Capital
Workers of a business or country, including their education, training, skills and health.
Capital Goods
Physical Capital: factories, machines, technologies, buildings, and property needed for a business.
One who risks his or her own money, time, ideas, and energy to start and run a business.
Natural Resources
“Gifts from nature” such as oil, coal, trees, good soil, fresh water
Economic Questions
The type of economy is determined by the three economic questions.
What to produce?
How to produce?
For whom to produce for?
Literacy rate
The percentage of people in a country that can read or write
Types of economic Systems
Gross Domestic Product
The total value of all the goods and services produced in a country in one year.
Money used in a particular country to buy goods and services.
Dollar, euro, peso
Specializing in one product that is produced well. Countries often trade for products they need.
Full transcript