i
loss
when the amount of money a person or company spends is more than they receive or take in
profit
the positive gain from an investment or buisness after subtracting suspenses
taxes
the money that the government collects from indivisuals and businesses to pay for public goods and services.
good
something you can feel or any kind of merchandise
supply
the amount of something available for use
demand
how much of a product or service is desired by buyers.
scarcity
there is a limited supply of something
service
any kind of work performed for others
economics
the study of the making,buying,and selling of goods and service
producer
anyone who makes or grows a good or preforms a service
consumer
anyone who buys a good or service
specialization
when an individual or a company does one part of a task and relies on others to complete the other parts of the task.
entrepreneur
a person who comes up with a product or service
oportunity
the process of choosing one good or service over another
interdependence
when people depend on one another
the amount of something available for use
supply
there is a limited supply of something
scarcity
when people depend on one another
interdependence
anyone who buys a good or service
consumer
something you can feel or any kind of merchandise
good
the positive gain from an investment or business after subtracting expanses
profit
any kind of work preformed for others
service
anyone who makes or grows a good or preforms a service
producer
the process of choosing one good or service over another
opportunity cost
how much of the product or service is desired by buyers
demand