i im
The study of the making, buying and selling of goods and services
Economics
The amount of something available for use
supply
Any kind of work performed for others
Service
Something you can feel or any kind of merchandise
Good
When the amount of money a person or company spends is more than they receive or take in
Loss
There is a limited supply of something
Scarcity
A person who comes up with a product or service, or a better way to produce one
Entrepreneur
The money that the government collects from individuals and businesses to pay for public goods and services.
Taxes
The positive gain from an investment or business after subtracting expenses
profit
How much of a product or service is desired by buyers
Demand
When an individual or a company does one part of a task and relies on others to complete the other parts of the task
specialization
The process of choosing one good or service over another
Opportunity Cost
Anyone who makes or grows a good or performs a service
producer
When people depend on one another
Interdependence
Anyone who buys a good or service
consumer