Economics
When the demand for a good or service is greater than the availability of the good or service.
shortage
The human body's largest organ
skin
Things that people would like to have but can live without
What are wants
Money that has been paid to a worker (household) for the amount of time that has been worked at a business
wages, salary, income
How many moons does Mercury have?
0
Someone who buys goods and services
consumer
This is an eight sided shape
Octagon
Products that people consume or use
goods
The desire to have a good or service and the ability to pay for it
demand
How many senators does Kentucky have?
2
Someone who makes goods or provides services
producer
This was America's first national park
Yellowstone National Park
The amount of a goods and service that businesses produce
supply
The term used when money loses its buying power so it takes more money to buy a good than it used to
inflation
Our state bird.
The Cardinal
The study of how we make choices.
economics
This is the fear of spiders
Arachnophobia
Things that people must have to survive
What are needs
A market economy with some government regulation.
Mixed economy
A group of this type of bird is called a murder
crow
When supply exceeds demand for a good or service
Surplus
These "scientists" bring you a creature report when they are done with their mission
Octonauts
Actions done for others in exchange for payment
services
The economic system in which individuals/businesses decide what, how, and how much will be produced/sold
Market Economy
What is the Kentucky state motto
united we stand divided we fall