Economics-The field of study that tries th explain how to produce, distribute and use goods and services
Economic system is a countrys way o using resources to provide goods and services that its people want and need.
Free Enterprise means that individuals or businesses may buy and sell and set prices with little governemtn interferece
Consumers are the people who buy and use goods and services
producers are the ones who make or provide goods and services
Marketplace is where buying and selling occur
GDP the total dollor value of all goods and services produced in the united states
Inflation occurs when the average prices of goods and services rise sharply.
Consumer Fraud dishonest business used by people who are trying to trick or treat you
Bait and switch a retailer advertises a bargain
Warranty is a guarantee that a product meets certain standards of quality
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