WE
What is an Entrepreneur
A person who comes up with a product or service,or a better way to produce something
What is an good?
Something you can feel or any kind of merchandise
What is a loss?
When the amount of money a person or company spends is more than they receive or take in
What is a producer?
Anyone who makes or grows a good performs a service.
An entrepreneur is when A person who ____ up with a product or service or a better way to produce one
Comes
What would humans consume the most?
Food,beverages,and household items
Supply is The amount of something ____________ for use
Available
Profit is The positive ____ from an investment or business after subtracting expenses
Gain
What is specialization?
When an individual or a company does one part of a task and relies on others to complete the other parts of the task.
Economics is the study of the making, ______, and sell goods and services
Buying
What is the vocab word? There is a limited supply of something
Scarcity
Definition for opportunity cost
The process of choosing one good or service over another.
What is economics?
What is taxes?
The money that the government collects from individuals and business to pay for public goods and services.
What is the vocab word?The study of the making,buying ,and selling of good and services
Economics
Why do we need taxes?
To pay for public good or services
Why do people profit things?
It's a positive gain from investment.
What is service?
Any kind of work performed for others
Amount
What is the vocab word? there is a limited supply of something
Scarcity
What is the definition of interdependence?
When people depend on one another
Interdependence is when people depend on _________
one another
Demand is How much of a ______ or service is desired by buyers
Product
Scarcity is When There is a limited supply __ something
Of
What is the vocab word? Something you can feel or any kind of merchandise.
Good