https://padlet.com/nasabd2077/ozl84tmf8ipj Nasserudeen Abdus-Salaam Ms. Stevens Civics & Economics (Honors) 02/03/2020 en-us 2020-02-03 17:52:55 UTC 2020-02-03 21:31:17 UTC hello@padlet.com https://media1.giphy.com/media/MFsqcBSoOKPbjtmvWz/giphy.gif nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439836658 the state of being scarce or in short supply; shortage]]> 2020-02-03 18:28:11 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439836658 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439837329 includes all those goods (items or commodities) which are used for further production of more goods]]> 2020-02-03 18:29:05 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439837329 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439837966 an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.]]> 2020-02-03 18:29:56 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439837966 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439838831 the resource that encompasses the natural resources used in production. broadly defined to include all that nature provides, including minerals, forest products, and water and land resources.]]> 2020-02-03 18:31:10 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439838831 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439839929 he amount of physical, mental, and social effort used to produce goods and services in an economy.]]> 2020-02-03 18:32:29 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439839929 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439840580 a system that relies on customs, history, and time-honored beliefs.]]> 2020-02-03 18:33:17 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439840580 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439841273 an economy in which production, investment, prices, and incomes are determined centrally by a government.]]> 2020-02-03 18:34:02 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439841273 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439841905 an economic system in which production and prices are determined by unrestricted competition between privately owned businesses.]]> 2020-02-03 18:34:52 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439841905 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439842408 an economic system combining private and public enterprise.]]> 2020-02-03 18:35:33 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439842408 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439842763 an economic system in which private business operates in competition and largely free of state control.]]> 2020-02-03 18:35:57 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439842763 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439843443 model showing the basic economic relationships within a market economy. It illustrates the balance between injections and leakages in our economy]]> 2020-02-03 18:36:50 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439843443 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439844539 rivalry among sellers where each seller tries to increase sales, profits and market share by varying the marketing mix of price, product, distribution and promotion.]]> 2020-02-03 18:38:04 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439844539 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439845045 the motivation of firms that operate so as to maximize their profits.]]> 2020-02-03 18:38:46 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439845045 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439845926 a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.]]> 2020-02-03 18:39:50 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439845926 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439951859 an economic principle referring to a consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.]]> 2020-02-03 21:15:28 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439951859 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439952551 the value of the next-highest-valued alternative use of that resource.]]> 2020-02-03 21:17:05 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439952551 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439953847 a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute. ]]> 2020-02-03 21:19:57 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439953847 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439954366 a market structure with a small number of firms, none of which can keep the others from having significant influence. (monopoly is one firm, duopoly is two firms and oligopoly is two or more firms.)]]> 2020-02-03 21:21:09 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439954366 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439955052 characterizes an industry in which many firms offer products or services that are similar, but not perfect substitutes.]]> 2020-02-03 21:22:52 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439955052 nasabd2077 https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439957011 a term that describes a market that has a broad range of competitors who are selling the same products]]> 2020-02-03 21:27:40 UTC https://padlet.com/nasabd2077/ozl84tmf8ipj/wish/439957011