i study
Loss
when the amount of money a person or company spends is more than they receive or take in.
profit
The positive gain from an investment or business after subtracting expenses.
taxes
The money that the government collects from individuals and business to pay for public goods and services.
good
something you can feel any kind of merchandise.
supply
The amount of something available for use.
demand
How much of a product or service desired by buyers
scarcity
There is limited supply of something
service
Any kind of work performed for others.
economics
the study of the making ,buying and selling of good and services
producer
Anyone who makes or grows a good or preforms a service
consumer
Anyone who buys a good or service
specialization
when a individuals or company dose one part of a task and relies on others to complete the other parts of the task
entrepreneur
A person who comes up with a product or service or a better way to produce one.
the process of choosing one good or service over another.
iterdependence
when people depend on one another
service
any work performed by others
producer
anyone who makes or grows a good or performs a service
good
something you can feel or any kind of merchandise
consumer
anyone who buys a good or service
supply
the amount of something available for use
demand
how much of a product or service is desired by buyers
economics
the study of making, selling and buying of goods and services
interdependence
when people depend on one another
opportunity cost
the process of choosing one good or service over another
scarcity
there is a limited supply of something