Definition 1
Definition 2
Definition 3
100
study of the making, buying and selling of goods or services
What is Economics
100
any kind of work performed for others
What is Service
100
anyone who makes or grows a good or performs a service
What is a Producer
200
Something you can feel, or any kind of merchandise
What is Goods
200
how much you make after expenses
What is Profit
200
Competition
What is Free Enterprise
300
the amount of something that is available
What is Supply
300
anyone who buys a good or a service
What is Consumer
300
process of choosing one good or service over another
What is Opportunity Cost?
400
to trade for goods or services
What is Barter
400
when a lot of people want to buy the same thing
What is Demand
400
Money government collects from individuals and business to pay for public goods and services
What is Taxes
500
limited resources and people must make choices
What is Scarcity
500
when an individual or company does one part of a task
What is Specialization
500
Person who comes up with a product or service
What is an Entrepreneur
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