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Economics Vocabulary

An industry that provides services to other people
Depending on other states and regions for natural resources goods and services
The contest among companies to get the most customers or sell the most goods
People are free to own and run their own business with only limited control by the gov't
Becoming skilled at one kind of job
When people want more than their resources can provide
A worker who brings his or her own ideas and skills to a job
An economic system in which the gov't owns all the resources and controls businesses
Buildings, machines, technology, and tools needed to produce goods and services
An economic system in which producers buy resources for a certain period
The growth of a global economy
Developing land for cities or housing
A measure of how many resources are needed to produce goods and services
Based on computers and other kinds of electronic equipment
To take a vehicle illegally