our wants and resources
care product by doctor,haircut by hairstylist, or banker
what is Service
Traditional, market, and command
what is mixed market economy
to increase the spending on early childhood rather than food programs
what is congress
the money a business receives from selling its goods
what is revenue
tend to supply more when the price is high
what is producers
to study how people use there limited resources
what is Economics
government answer the economic question
the term opportunity cost very specifically.
what is Economists
which increase in expenses caused by product another unit of something
what is marginal cost
the amount of good or services that producers are willing.
what is supply
things that can be used I'm making product or services
what is Resources
resources used to produce goods and sevices
what is market economy
you had to consider the benefits and costs of each chocie
what is good decision
open a total of 8 hours per day he fixed d300
what is total cost
is the amount of goods or services
what is demand
resources to produce all of the things we would like to have
what is scarcity
the economy answers on the basis of habit or custom
what is traditional economy
the next best use of your money or time
what is opportunity
higher payroll costs if the seafood depot is open longer
what is variable costs
are the people or businesses that provide foods and sevices
what is producers
desires that people have that can be met by getting a product or sevice
what is wants
the way of producing the thing people need and want
what is economic system
giving up one alternative Good or services for anthor
what is trade off
are expenses that do not change no matter how much a business product
what is fixed costs
are the people that buy goods and services
what is consumers