Basic Economics

Front

Using income for purchases, expenses, and debt

Back

spending

Front

things purchased by consumers

Back

goods

Front

A person who provides a good or service

Back

producer

Front

A person who purchases a good or service

Back

consumer

Front

Basic things humans need to survive

Back

need

Front

how much of a good or service consumers want

Back

demand

Front

The amount available

Back

supply

Front

money paid to the government through income, sales, and purchase of property

Back

taxes

Front

not having enough

Back

scarcity

Front

When something given up for something else is called?

Back

Opportunity Cost