Economics
Economics
Economics
Economics
Economics
100
not enough resources
What is scarcity?
100
exchanging goods or services without using money
What is bartering?
100
a person who buys a good or service
What is a consumer?
100
tools or equipment used
What is capital resources?
100
police, fire fighting, public schools, highways
What is govermnet services?
200
Making and producing goods
What is production?
200
food,clothing, shelter,medical care
What is needs?
200
anyone can start a business - U.S. economic system
What is free enterprise?
200
when you have to give soemthing up to make an economic choice
What is opportunity cost?
200
a plan to manage money
What is a budget?
300
oil, natural gas, trees
What is natural resource?
300
cars, jewerly, games
What is wants?
300
when a business does not make money
What is a loss?
300
sending goods or products out to stores to be sold
What is distribution?
300
people can borrow money from a bank
What is a loan?
400
the people used to do the work
What is a human resource?
400
when a buisness makes money
What is profit?
400
too much supply
What is surplus?
400
sending products or goods to be sold in stores
What is distribution?
400
the number of a product that is available
What is the supply?
500
anyone can start a business
What is free enterprise?
500
Products made such as shoes, clothing,dvds
What is goods?
500
a small economic unit
What is a household budget?
500
when a producer makes one product and sells only that product like a shoe store
What is specialization?
500
how many people want a product
What is demand?
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