Social Studies Lesson 8 and 9 Test Review

The system in which good and services are bought and sold. 

• Scarcity
• Economy
• Profit
• Geography

A place where buyers and sellers come together. 

• School
• Restaurant
• Market
• Fiesta

Items that can be bought, sold, and traded, such as food and computers. 

• Goods
• Services

Tasks that you pay someone to do for you.

• Goods 
• Services

When people want more than they can actually have. 

• Economics
• Profit
• Demand
• Scarcity

Something that leads a person to make a certain choice.

• Demand
• Incentive
• Entrepreneur
• Supply

The total amount of goods or services available to buy. 

• Supply
• Demand

The total amount of goods or services that customers will buy at all prices.

• Supply
• Demand

Someone who takes a risk to  help start and manage a new business. 

• Seller
• Buyer
• Entrepreneur

What is a free market economy?

• You are made to sell and buy what an authority tells you to sell.
• You can choose what to buy with the money you make.