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Word: economics
Definition:the condition of a region or group as regards material prosperity.
Sentence: Economic- the science that deals with the production, distribution, and consumption of goods and services.

example: budgeting

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Word: Entrepreneurs
Definition - A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
Sentence -

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word- The invisible hand
definition- market force that helps the demand and supply of goods in a free market to reach equilibrium automatically
sentence-

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Definition: Land,labor and capital;the  three groups of resources that are used to make all goods and services.
sentence - Without factors of production we could not produce a product.

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work: opportunity cost                           definition: the mos desirable alternative give up as the result of a decision.                                                        sentence:

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word: government regulation
def:a law that controls the way that a business can operate, or all of these laws considered together: Voters want some government regulation to prevent these financial disasters from happening.

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Word: Capital
Definition: Any human made resource to create other goods and services
Sentence:  Products made to make more money

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Word: Marginal Cost
Definition: Cost of producing one more unit of a good or service.
Sentence: The company could not afford the marginal cost of producing anymore footballs, they were now looking at rasing prices so that they could afford to make more.
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Word: Human Capital
Definition: the skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.
Sentence: Education is an investment in human  capital that pays off in terms of higher productivity
Example: School

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Word: Productivity
Definition: Value of output produced.

Sentence - How much a person makes in a job shows the value of what a person can do.

Example: If a person can do something very special of different, then the productivity will be of a big value.

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word: Land
Definition: Natural resources that are used to make goods.
sentence: Certain factories will use the land to get resources.
example: forests

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word-mixed economy
Definition- an economic system combining private and public enterprise.
Sentence- Education, though principally a public enterprise, is becoming more of a mixed economy service with the advent of religious and charter schools.
Example- Taxes

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Word: Marginal Benefit

Definition:  An additional benefit arising from a unit increase from a particular activity

Sentence: The sum of the marginal benefits represent the aggregate willingness to pay or aggregate demand.

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word: Production Possibilities Curve
Definition: A curve depicting all maximum output possibilities for two goods, given a set of inputs consisting of resources and other factors.
Sentence:The production possibility curve is also known as the production possibility frontier and is a very useful tool to illustrate the economic problem of scarcity and choice.
ex:

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Word- Capital
Definition- wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
Sentence- We needed to buy some capital to bake the bread.
Example- An oven is an example of capital for a bakery.

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Word: Command Economy
Definition: economic system, in which the central government makes all decisions on the production and consumption of goods and services.
Sentence:  America does not have a command economy.
Example: Cuba and North Korea

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Word: Labor

Definition- the effort that people contribute to the production of goods and services

Sentence: Labor supplies the expertise, manpower and service needed to turn raw materials into finished products and services.

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word: Opportunity cost

Definition: The most desirable alternative given up as result of decision

Sentence: Opportunity cost is one way to measure the cost of something.

Example:

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word:  Economic Equity

Definition:  oncept or idea of fairness in economics, particularly in regard to taxation or welfare economics.
Ex. Shareholders

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Word: Traditional Economy
Definition: A traditional economy is a system that relies on customs, history and time-honored beliefs.
Sentence:  In Traditional Economies,  capital and labor were the two critical factors for success.
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Word: Specialization

Definition: Concentration of the productive efforts of individuals and firms on a limited number of activities

Sentence: I specialize in business

Picture:

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Word- Trade Off

Definition- An alternate that we sacrifice when we make a financial decision.

Sentence- I'm going to trade off my money to buy a car.

Picture-

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Word: Fiat Money
Definition: Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity.

Read more: Fiat Money https://www.investopedia.com/terms/f/fiatmoney.asp#ixzz53hwXAA3U
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Sentence: The US economy uses Fiat Money on a daily basis

Example: US Money