Economics

Front

Who is a person who buys a good or service?

Back

consumer

Front

What are things people make?

Back

goods

Front

What are things people like to have but do not need?

Back

wants

Front

Who is a person that makes goods?

Back

producer

Front

The amount of goods offered for sale by a business?

Back

supply

Front

What is a large supply of an item?

Back

surplus

Front

What is a shortage or lack of supply of an item?

Back

scarcity

Front

What are things we must have to live?

Back

needs

Front

What is the thing you have to give up in order to get your first choice?

Back

opportunity cost

Front

The amount that consumers are willing to buy for a certain price

Back

demand