Economics in a Market Economy

A very small supply

• Scarcity

• Profit

• Opportunity Cost

• Tax

The study of how resources are used to satisfy peoples wants and needs.

• dictionary

• economics

• geography

• civics

Money or value gained after all the costs of production have been paid.

• Loss

• Supply

• Profit

• Tax

Money that the government collects from individuals and businesses to pay for public goods and services

• Profit
• Tax
• Service
• Loss

The people who do the labor. Anyone who works.

• human resource

• renewable resource

• natural resource

• capitol resource

How much there is of a good or service.

• Incentive
• Supply
• Demand
• Loss

Resources found in nature like land, fuel, water and minerals are

• human resources

• natural resources

• nonrenewable resources

• capital resources

Anyone who buys a good or service.

• Barter
• Loss
• Consumer
• Producer

To trade.

• Taxes
• Barter
• Service
• Producer

A consumer chooses to buy lemonade instead of coke. This is an example of ______________________________

• profit

• economics

• productivity

• opportunity costs