Economics

Front

The study of how people make decisions about money, jobs, business, and the things they want.

Back

Economics

Front

A system that helps people make, buy, sell, or trade things to survive or make their lives better.

Back

Economy

Front

Something that is made, bought and sold.

Back

Good

Front

Work done for a person for money.

Back

Service

Front

A person who makes goods or provides services.

Back

Producer

Front

A person who buys goods or services.

Back

Consumer

Front

When there are not enough resources to meet people's wants.

Back

Scarcity

Front

The value of the thing you give up in the tradeoff.

Back

Opportunity Cost

Front

The amount of something available.

Back

Supply

Front

The measure of how many people want something.

Back

Demand