Definition
When the amount of money a person or company spends is more than they receive or take in, this is the definition of what term?
What is a loss
The study of making, buying, and selling of goods and services. What term is this?
What is economics
"The public needs more of ___!" the news paper said. What term does this match?
What is demand
What is a profit?
The positive from an investment or business after subtracting expenses
When an individual or company does one part of a task and relies on others to complete the other parts of the task
What is specialization
"We are running out of oil!" the news reporter exclaimed. What term does this example match?
What is scarcity
The money that the government collects from individuals and businesses to pay for public goods and services. Which term's definition is this?
What are taxes
What is an Entrepreneur?
A person who comes up with a product or service or a better way to produce one.
"The waiter is very kind and give good customer service". What term does this match?
What is service
What are goods?
something you can feel or any kind of merchandise
What is an Opportunity Cost?
The process of choosing one good or service over other.
My little sister like it when i make custom puzzles for her to play with. What term is this?
What is a producer
What is the amount of something available for use?
What is supply
When people depend on one another. What term is this?
What is interdependence
Me and my mom went to the store to buy stuff for dinner. Which term is this?
What is a consumer