economy
What is supply
the amount of something there is
what is a natural resource
exists naturally in environment/God made (wind, dirt, trees, sun, water)
what is demand
how much is needed or wanted of a product
a non renewable resource is
something that can NOT be replaced (coal, oil)
what is economy
a system of jobs
What is a renewable resource
something that is able to be replaced or regrown (lumber, wheat, solar energy)
What happens to the price of something with LOW demand (left over Halloween candy on Nov 1)
the price goes down
What is climate
a PATTERN of weather in a place
(Hawaii has a warm climate. It never snows)
What happens to the price of something with HIGH demand (Elsa, Stanleys)
the cost goes UP
What happens when communities don't have the resources or good economy? (LA)