Goods and Services
Supply and Demand
Cost of Doing Business
Enterprise City Businesses
EC Surprise
100
A tangible item that satisfies people's wants.
What is a good?
100
The amount of goods available.
What is supply?
100
The cost of doing business can be summarized with this acronym.
What is SMART?
100
All Enterprise City businesses strive to make this.
What is a profit?
100
An economics system that means people are free to start their own businesses and own property.
What is the free enterprise system?
200
Work done for others.
What is a service?
200
The desire to own something and the ability to pay for it.
What is demand?
200
The S in SMART stands for these.
What are salaries?
200
People who shop at Enterprise City businesses.
What are consumers?
200
One of the main benefits of the free enterprise system.
What is to make money?
300
A grocery store provides consumers with these.
What are goods?
300
High demand, but low supply.
What is scarcity?
300
The three different ways to advertise at Enterprise City.
What are newspaper, radio and web page?
300
People at this Enterprise City business are paid with money from taxes.
What is City Hall?
300
When each worker does a special job then passes it to the next worker.
What is division of labor?
400
A baby-sitter provides this.
What is a service?
400
Jill wants a candy bar and popcorn. She chooses a candy bar. The popcorn is an example of this.
What is opportunity cost?
400
The T in SMART stands for these costs.
What are taxes?
400
One way the Enterprise City Bank can make profit is by doing this.
What is making loans?
400
A change in these may cause prices at Enterprise City to shift during the day.
What are supply and demand?
500
A person who makes or provides goods and services.
What is a producer?
500
Prices of items are determined by supply and demand, plus this.
What is the cost of doing business?
500
The M, A and R in SMART stand for these.
What are materials, advertising and rent?
500
The radio station makes money by doing this.
What is selling ads.
500
When an item is sold at many stores, the price is most likely to be this.
What is low?
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