humaities ecomics

Question 1

supply

Answer 1

the amount of a goods or service avalible

Question 2

demand

Answer 2

the amount of a goods or service that consumers will buy

Question 3

labour

Answer 3

workers sell their skills in return for money
income- paid in wages/salaries
issue- workers can get treated unfair

Question 4

stock

Answer 4

people buy parts of a company
income-by reciving profit (divideneds) you can also buy low and sell high
problem- hard to know what to do

Question 5

housing

Answer 5

people by and rent homes
income-people make money by selling or renting houses for a profit or charging rent
issue- homelessness

Question 6

foregin exchange

Answer 6

buy/sell currencies
income- make money by buying low and selling high
issue- challenging to know how to do this

Question 7

wages

Answer 7

the amount of money that a workers is paid based on the work that they provide

Question 8

employee

Answer 8

a person who works for a buisness

Question 9

employer

Answer 9

a buisness who employ workers to produce goods and services

Question 10

tenant

Answer 10

a person who pays rent in exchange for living in someone elses house

Question 11

landlord

Answer 11

the owner of a house who leases it out to a tenant

Question 12

interdependance

Answer 12

the way participants in an economy rely on eachother to provide or trade goods and services they cannot produce