economics: section 3.4

capital

tangible producer goods

sometimes

fill in the blank

money can _________ be capital because it is used to buy capital goods

subsistence economy

an economic system that provides barely enough to keep a society alive; in this system, capital goods are not used efficiently

not used efficiently

fill in the blank

in a subsistence economy, capital goods are ____ ______ ________

private capitalism

a system in which the majority of a nation’s capital is owned and controlled by private individuals and businesses; capital is used effectively in this

is used efficiently

fill in the blank

in a private capitalism, capital ___ ______ _______

capitalist

someone who owns or uses capital goods to produce other goods

robinson crusoe

capitalist who used tools and equipment from the shipwrecked boat

economy

fill in the blank

capital goods help more value to Crusoe in his condition; money was worthless to him without an _______ to use it