Im
Loss
when the amount of money a person or company spends is more that they receive or take in
Profit
The positive gain from an investment or business after subtracting expensive
taxes
The money that the government collects from individuals and businesses to pay for public goods and services
Good
Some thing you can feel or any kind of merchandise
The amount of something available for use
Supply
supply the _____ of something for use
amount
Demand
How much a product or service is desired by buyers
Demand how much a _____ or service is desired by buyers
product
scarcity
there is a limited supply of some thing
Good some thing you can _____ or any kind of merchandise
feel
scarcity there is a ______ supply of some thing
limited
loss the amount of money a person or company _____ is more than what they take or receive
spends
service
Any kind of work done by others
work done by others
service
service any kind of ____ done by others
work
The study of making,buying,and selling of goods and services
Economics
Economics the study of the _______,_______and ______ of goods and services
making,buying,and selling
Economics
The studying of making,buying,and selling goods and services
Producer
producer
Any one who makes or grows a good or preforms a service
consumer
Anyone who buys a good or service
specialization
when an individual or company does one part of a tasks and relies on others to complete the other parts of a task
Entrepreneur
A person who comes up with a product or service, or a better way to produce one
Opportunity cost
The process of picking one good or service over another
Independence
When people depend on one or another