Vocabulary
Vocabulary
100

A plan for using money

What is a budget

100

Cost of a good or service

What is price

200

Someone who buys goods or services from a company.

Who is a customer or consumer

200

All of the goods and services producers offer

What is supply

300

All the goods and services consumers buy.

What is demand

400

Fun that is given up because an option is not chosen.

What is opportunity cost

500

Having a limited amount of something

What is scarcity
500

Working at a job that requires special abilities

What is specialization