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Profit
The positive gain from an investment or business after subtracting expenses.
Scarcity
There is a limited supply of something.
Specialization
When an individual or company does one part of a task and relies on others to complete the other parts of the task.
Taxes
The money that the government collects from individuals and businesses to pay for public goods and service.
Service
Any kind of work performed for others.
Entrepreneur
A person who comes up with a product or service, or a better way to produce one.
Good
Something you can feel or any kind of merchandise.
Economics
The study of the making, buying, and selling of goods and service.
Opportunity Cost
The process of choosing one good service over another.
Supply
The amount of something available for use .
Producer
Anyone who makes or grows a good or performs a service.
Interdependence
When people depend on one another
Demand
Consumer
Anyone who buys a good or service
Interdependence
When people depend on one another.