Economic Basics Vocab 5 by https://padlet.com/krdray/66y0usardeza en-us 2017-01-03 19:51:40 UTC 2023-02-16 22:20:00 UTC hello@padlet.com Gross domestic product by Ashley Villagomez https://padlet.com/krdray/66y0usardeza/wish/146332478 the total value of goods produced and services provided in a country during one year.

]]> 2017-01-10 18:00:06 UTC https://padlet.com/krdray/66y0usardeza/wish/146332478 Land https://padlet.com/krdray/66y0usardeza/wish/146332482 Limited natural resources not created by humans
By Lennon Cancino
]]> 2017-01-10 18:00:06 UTC https://padlet.com/krdray/66y0usardeza/wish/146332482 Entrepreneurs by Tristen https://padlet.com/krdray/66y0usardeza/wish/146332663 a person who organizes and operates a business taking on greater than normal risks in order to do so. ]]> 2017-01-10 18:00:39 UTC https://padlet.com/krdray/66y0usardeza/wish/146332663 Economic Model by Kaylee Woest https://padlet.com/krdray/66y0usardeza/wish/146332691 A model that represents economic processes by a set of variables and a set of logical and/or quantitative relationships between them.]]> 2017-01-10 18:00:43 UTC https://padlet.com/krdray/66y0usardeza/wish/146332691 Labor https://padlet.com/krdray/66y0usardeza/wish/146332709 Workers, who apply skills to produce by Sean pavlicek]]> 2017-01-10 18:00:46 UTC https://padlet.com/krdray/66y0usardeza/wish/146332709 Capital By CJ Awe https://padlet.com/krdray/66y0usardeza/wish/146332744 Means by which something is produced.]]> 2017-01-10 18:00:52 UTC https://padlet.com/krdray/66y0usardeza/wish/146332744 Economic Interdependence by Abby Nguyen https://padlet.com/krdray/66y0usardeza/wish/146332781 Division of labor-participants in any economic system must be part of a trading network to obtain the products they cannot produce efficiently for themselves]]> 2017-01-10 18:00:56 UTC https://padlet.com/krdray/66y0usardeza/wish/146332781 Intangible by Andrew Cornwell https://padlet.com/krdray/66y0usardeza/wish/146332805 unable to be touched or grasped; not having physical presence.]]> 2017-01-10 18:00:59 UTC https://padlet.com/krdray/66y0usardeza/wish/146332805 Paradox of Value by Katie Curts https://padlet.com/krdray/66y0usardeza/wish/146332847 Apparent contradiction between the high value of a nonessential item and the low value of and essential item ]]> 2017-01-10 18:01:04 UTC https://padlet.com/krdray/66y0usardeza/wish/146332847 Economics by Emily Margiolos https://padlet.com/krdray/66y0usardeza/wish/146332854 The study of how people try to satisfy seemingly unlimited and competing needs and wants through the careful use of relatively scarce resources.]]> 2017-01-10 18:01:05 UTC https://padlet.com/krdray/66y0usardeza/wish/146332854 Consumer Good by Victoria Smith https://padlet.com/krdray/66y0usardeza/wish/146332860 Good intended for final use by individual, such as shoes, a shirt, or an automobile ]]> 2017-01-10 18:01:05 UTC https://padlet.com/krdray/66y0usardeza/wish/146332860 Utility by Natalie Lewis https://padlet.com/krdray/66y0usardeza/wish/146332902 A capacity to to be useful and satisfy. ]]> 2017-01-10 18:01:11 UTC https://padlet.com/krdray/66y0usardeza/wish/146332902 Need- Sarah M https://padlet.com/krdray/66y0usardeza/wish/146332903 The basic requirements for survival. Such as food, clothing, water, and shelter.  ]]> 2017-01-10 18:01:11 UTC https://padlet.com/krdray/66y0usardeza/wish/146332903 Trade-offs by Liz Molina https://padlet.com/krdray/66y0usardeza/wish/146332907 ALL alternative choices when making economic decisions. ]]> 2017-01-10 18:01:12 UTC https://padlet.com/krdray/66y0usardeza/wish/146332907 Value https://padlet.com/krdray/66y0usardeza/wish/146333038 the regard that something is held to deserve; the importance, worth, or usefulness of something.]]> 2017-01-10 18:01:28 UTC https://padlet.com/krdray/66y0usardeza/wish/146333038 Division labor- Eunice Campuzano 🔅 https://padlet.com/krdray/66y0usardeza/wish/146333174 The division of labor is the separation of tasks in any economic system so that participants may specialize ]]> 2017-01-10 18:01:51 UTC https://padlet.com/krdray/66y0usardeza/wish/146333174 Service by Elizabeth Ramos https://padlet.com/krdray/66y0usardeza/wish/146333268 Work performed for someone ]]> 2017-01-10 18:02:06 UTC https://padlet.com/krdray/66y0usardeza/wish/146333268 Opportunity cost https://padlet.com/krdray/66y0usardeza/wish/146333664 the loss of potential gain from other alternatives when one alternative is chosen.
By:Jake Trujillo]]> 2017-01-10 18:03:08 UTC https://padlet.com/krdray/66y0usardeza/wish/146333664 Want by Breanna https://padlet.com/krdray/66y0usardeza/wish/146333734 Is simply something we would like to have but is not necessary for survival ]]> 2017-01-10 18:03:19 UTC https://padlet.com/krdray/66y0usardeza/wish/146333734 Trade-offs by Haley https://padlet.com/krdray/66y0usardeza/wish/146333922 Most preferred alternative. A sacrifice must be made to get a certain product]]> 2017-01-10 18:03:47 UTC https://padlet.com/krdray/66y0usardeza/wish/146333922 Durable https://padlet.com/krdray/66y0usardeza/wish/146334129 Last longer than 3 years of used regul]]> 2017-01-10 18:04:21 UTC https://padlet.com/krdray/66y0usardeza/wish/146334129 Non-Durable Good https://padlet.com/krdray/66y0usardeza/wish/146334220 Doesn't last longer than 3 years if used regularly ]]> 2017-01-10 18:04:33 UTC https://padlet.com/krdray/66y0usardeza/wish/146334220 Opportunity cost Trevor https://padlet.com/krdray/66y0usardeza/wish/146334304 The cost of doing something]]> 2017-01-10 18:04:43 UTC https://padlet.com/krdray/66y0usardeza/wish/146334304 Capital good by Justin rurland https://padlet.com/krdray/66y0usardeza/wish/146334632 Machinery and equipment to produce products]]> 2017-01-10 18:05:34 UTC https://padlet.com/krdray/66y0usardeza/wish/146334632 Market by Holly Mckinney https://padlet.com/krdray/66y0usardeza/wish/146335088  sum total of all the buyers and sellers in the area or region ]]> 2017-01-10 18:06:44 UTC https://padlet.com/krdray/66y0usardeza/wish/146335088 Paradox of Value - Jordan Potter https://padlet.com/krdray/66y0usardeza/wish/146335362 The paradox of value (also known as the diamond–water paradox) is the apparent contradiction that, although water is on the whole more useful, in terms of survival, than diamonds, diamonds command a higher price in the market.]]> 2017-01-10 18:07:26 UTC https://padlet.com/krdray/66y0usardeza/wish/146335362 Scarcity by Ana Harvey https://padlet.com/krdray/66y0usardeza/wish/146335979 the condition that results from society not having enough resources to produce all things people would like to have ]]> 2017-01-10 18:09:14 UTC https://padlet.com/krdray/66y0usardeza/wish/146335979