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What's it called when there is not enough of something?
Scarcity
What is it called when a business makes more money than they spend on buying supplies?
Profit
What are activities that are preformed for others, like haircuts, medical care, or teaching?
Services
What is it called when you give up something in order to get what you want most?
Opportunity Cost
To make something greater, means to?
Increase
What is a person or business that makes goods or provides services?
Producer
What is the amount of a good or service that is available called?
Supply
To make something smaller, means to?
Decrease
Who is a person or business that buys and uses good or services?
Consumer
How much people want the good or service is called?
Demand
What is the system of production, distribution, and consumption of goods and services?
Economy
What is the action of buying and selling goods and services?
Trade
What is it called when businesses sell the same good or service?
Competition
What are tangible items that people buy and use?
Goods
What is a good thing that occurs as a result of a situation called?
Benefit