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Business > Pros-want > Flashcards

Pros-want Flashcards

1
Q

Recession

A

Demand decreases
Business failures
GDP SLOWS

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2
Q

Recovery

A

Unemployment decrease

GDP rises

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3
Q

Resources

A

Items that people can use to make or obtain what they need or want

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4
Q

Retail sales

A

Sales of durable/nondurable goods bought

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5
Q

Scarcity

A

Not having enough to satisfy

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6
Q

Trade off

A

Give up something to get something

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7
Q

Unemployment rate

A

The portion of people in the labor force who don’t have jobs

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8
Q

Wants

A

Peoples desires

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9
Q

Prosperity

A

Unemployment rate is low
Businesses are functioning
GDP increases

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Business (4 decks)

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