Economics Review Game

Front

Material found in nature that people can use.

Back

Natural Resource

Front

The amount of goods and services that are available.

Back

Supply

Front

Mrs. Bates is a teacher. She provides a

Back

Service

Front

Many people want the latest video game. That means there is a big ……….

Back

Demand

Front

When the demand is high and the supply is low the price goes

Back

up

Front

What is a market economy?

Back

An economic system based on individual choices and voluntary trade

Front

What are the characteristics of a traditional economy?

Back

An economy that values traditions and produces a limited quantity of goods

Front

A command economy is...

Back

An economic system in which the government owns some of all of the factors of production

Front

In a mixed economy you would have...

Back

An economy that features one or more of the economic systems

Front

What would be a good definition for scarcity?

Back

The economic problem of having unlimited human wants in a world of limited resources