Economics
Things we must have to stay alive.
What are needs?
An action someone does for someone else.
What is a service?
A person who buys and uses goods or services.
What is a consumer?
enough to meet demand.
What is Available?
The amount of something available to consumers.
What is Supply?
The study of how resources are used, made, distributed, consumed, and exchanged.
What is Economics?
What is a good?
A person who makes goods or provides services.
What is a producer?
Not enough to meet demand.
What is scarce?
How much consumers want something.
What is Demand?
Things we would like to have but do not need for survival.
What are wants?
Groceries.
What is a good?
Mall shopper
What is a consumer?
Plenty of apples for everyone.
What is available?
Having a large amount of paper for a craft project.
What is supply?
Striking a deal for a trade.
What is bartering?
Getting a haircut.
Baker
What is a producer?
Toilet paper was completely bought out during Covid.
What is Scarce?
Customers waiting for the store to open on Black Friday.
What is demand?