Not having enough resources to satisfy every need.
What is scarcity
100
To Make Profit
What is the primary reasons business owners make investments and risks
100
a person who buys and uses goods and services
What is A consumer
200
The means through which goods and services are produced
What is Economic Resources
200
The process of choosing which wants, among several options, will be satisfied.
What is Economic decision making
200
where the governments role is most limited
What is market economy
200
Individuals and organizations that determine what products and services will be available
What is Producers
300
Things that can add comfort and pleasure to your life .
What is wants
300
individuals and businesses have unlimited wants and needs. The economic resources they have are limited
What is the basic economic problem
300
The rivarly among businesses to sell their goods and services
What is competition
300
prices will decrease as competition increases
What is as competition increases prices usually .....
400
Are things that you can see and touch
What is goods
400
you have adequate time to identify and analyze several choices
What is the best time to use the decision making process?
400
A nations plan for answering the three economic questions
What is Economic system
400
The quantity of a good or service that business are willing and able to provide
What is supply
500
Activities that are consumed at the same time they are produced.
What is services
500
when you give something up to have something else .
What is Trade off
500
1.what goods and services will be produced ?
2.how will the goods and services be produced ?
3. what needs and wants will be satisfied witht the goods and services produced?
What is The three economic questions
500
The quantity of a good or service that consumers are willing nd able to buy