Wednesday, October 26, 2011

Week 6(:






ECONOMIC SYSTEM: The system of producing, distributing, and consuming. The economic system is the overall picture of businesses.
SUPPLY AND DEMAND: Price determination for murchandise in a market.
When supply goes up, then demand goes down. When supply goes down, then demand goes up.
INTEREST: The charge for borrowing money.
When a person gets a loan, the bank charges them interest until they pay it off.
ASSETS: Anything that you can sell. 
My car and my house are both assets.

1 comment: