i
loss
When the amount of money a person or company spends is more then they receive or take in
Demand
How much of a product or servies is desired by buyers
Consumer
Anyone who buys a good or service
The positive gain from an investment or business after subtracting expenses
Profit
How much of a product or servies is desired by buyers
Demand
profit
The positive gain from an investment or business after subtracting expenses
scarcity
There is a limited supply of something
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
The money that the goverment collect from individuals and business to pay for public goods and services
Taxes
There is a limited supply of something
Scarcity
Taxes
The money that the goverment collect from individuals and business to pay for public goods and services
Service
Any kind of work performed for others
Entrepreneur
A person who comes up with a product or service, or a better way to produce one
When the amount of money a person or company spends is more then they receive or take in
Lose
Any kind of work performed for others
Service
Goods
Something you can feel or any kind of merchandise
Economics
The study of the making, buying, and selling of gods and services
Opportunity
The process of choosing one good or service over another
Something you can feel or any kind of merchandise
Good
The study of the making, buying, and selling of gods and services
Economics
supply
The amount of something available for use
Producer
Anyone who makes or grow a good or performs a service
Interdependene
When people depend on one another
The amount of something available for use
supply
Anyone who makes or grow a good or performs a service