economics & tourism

Term Definition
capitalism a financial system in which goods products and services are privately owned and operated
goods products or items that have economic value or satisfy a want
gross state product the total amount of money created in a state each year
resources available items or goods or a naturally occurring supply such as petroleum
scarcity the quality of being rare of difficult to obtain
setors portions,areas,parts, or subdivisions of a group or workforce
surplus abundance, excess, or leftover goods or money
districts a structural division used to organize and manage groups of schools
economy a system for exchange of goods services through barter or buying and selling
annually taking place yearly, once per year
per capita per unit of population

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