Economic Definitions
Capital - human-made resources (buildings, machinery, and equipment) used to produce goods and services - kapitál
Cost - the amount of money paid or needed for buying, doing or producing something - náklady
Economic good - a good or service that is both useful and scarce and therefore has a price - ekonomický statek
Economics - the study of how people use their limited resources to satisfy unlimited wants - ekonomie
Economy - an organized system of the production, distribution and consumption of wealth - ekonomika, hodpodářství
Enterprise
1. the quality in a businessman to organize, innovate, bear risks and make nonroutine decisions - podnikavost, podnikatelství
2. an industrial or commercial organization - podnik
3. an economic system which allows a degree of freedom to private businessmen - podnikání
Entrepreneurship - see Enterprise 1
Factors of production - resources, or inputs, necessary to produce goods and services - výrobní factor
Free good - a commodity that has no price because it is not scarce and does not require the use of scarce factors of production to create them, e.g. fresh air, sunshine 9in certain parts of the world) - volný statek
Inflation - a continual rise in the average level of prices - inflace
Input
- the factors of production that are put into a business to produce its output - vstup
Labour
1. work, esp. human work needing the use of strength of body or skill and effort of mind - práce
2. the whole class of persons who work for their living - pracovní síla
3. one of the main factors of production, the human energy and mental skill and judgement applied in producing economic goods - práce
Land - one of the factors of production, also called “natural resources” being the gifts of nature in the form of useful materials of all kinds in or on the earth, including surface space, soil, rocks, minerals, water, winds and weather - půda,
Cost - the amount of money paid or needed for buying, doing or producing something - náklady
Economic good - a good or service that is both useful and scarce and therefore has a price - ekonomický statek
Economics - the study of how people use their limited resources to satisfy unlimited wants - ekonomie
Economy - an organized system of the production, distribution and consumption of wealth - ekonomika, hodpodářství
Enterprise
1. the quality in a businessman to organize, innovate, bear risks and make nonroutine decisions - podnikavost, podnikatelství
2. an industrial or commercial organization - podnik
3. an economic system which allows a degree of freedom to private businessmen - podnikání
Entrepreneurship - see Enterprise 1
Factors of production - resources, or inputs, necessary to produce goods and services - výrobní factor
Free good - a commodity that has no price because it is not scarce and does not require the use of scarce factors of production to create them, e.g. fresh air, sunshine 9in certain parts of the world) - volný statek
Inflation - a continual rise in the average level of prices - inflace
Input
- the factors of production that are put into a business to produce its output - vstup
Labour
1. work, esp. human work needing the use of strength of body or skill and effort of mind - práce
2. the whole class of persons who work for their living - pracovní síla
3. one of the main factors of production, the human energy and mental skill and judgement applied in producing economic goods - práce
Land - one of the factors of production, also called “natural resources” being the gifts of nature in the form of useful materials of all kinds in or on the earth, including surface space, soil, rocks, minerals, water, winds and weather - půda,