Ohio Chapter 10 Review

When there is not enough of a product it is called ______.

• export

• profit

• scarcity

• specialization

____ means producing one or a few products instead of many products.

• export

• profit

• scarcity

• specialization

____ is the money made after supplies and workers have been paid for.

• export

• profit

• scarcity

• specialization

To sell a product to another country is to ______ it.

• export

• profit

• scarcity

• specialization

____ is high if a large number of people want to buy a product.

• supply

• free enterprise

• opportunity cost

• demand

What is it called when people are free to own and run their own businesses?

• supply

• free enterprise

• opportunity cost

• demand

The value of the second best choice that you give up is called your _____________.

• supply

• free enterprise

• opportunity cost

• demand

____ is the amount of a good that producers are willing and able to provide at various prices during a given time.

• supply

• free enterprise

• opportunity cost

• demand

People need to earn an _____ so that they can buy the things they want and need.

• profit

• income

• interest

• budget

____ make goods and services

• producers

• consumers