i know
What are Taxes?
Money that the government collects from individuals and businesses to pay for public goods and services
what is interdependence
when people ______ on one another
What is a loss
when a amount of money a person or a company spends is more then they receive or gain
How much a product or a service is desired
Demand
A person who comes up with a good or a service or a better way of producing
Entrepreneur
What is scarcity and how can it affect your business
Scarcity= is a limited supply of something
It can effect your prices, income, and amount of customers
what is service
any kind of work preformed for others
what is a good
something u can feel or any kind of merchandise
The study of how to make, buy, and selling a good or service
Economics
What is supply
The amount of something available for use
What is Demand
how much a product or service is desired by buyers
what is a consumer
anyone who buys a good or service
what is a Entrepreneur
A person who comes up with product or service or a better to produce a product
Any kind of work preformed for others
Service
Any one who makes or grows a product or does a service
Producer
What is economics
The study of making, buying , and selling of goods and services
what is specialization
when a individuals or a company does one part of the task and relies on others to complete the other part of the task
what is opportunity cost
The process of choosing a product or a service over another
There is a limited supply of something
Scarcity
Something you can feel or any kind of merchandise
good
What is a producer
Producer=anyone who makes or grows a good or preforms a service
What is profit
A positive_______ From an ______ or a business After subtracting expenses
When people depend on Each other
Interdependence
Any one who buys a good or service
Consumer
the process of choosing a product or service over another
Opportunity cost