Economics

_____________ are things that people make or use to satisfy their needs and wants.

• Goods

• Services

• Producers

• Consumers

People that make or produce goods.

• services

• goods

• consumers

• producers

A teacher provides a _______ to his or her students.

• service

• good

• consumer

• producer

_________ is how much of something people want.

• supply

• demand

• services

• import

A plan for using money:

• budget

• supply

• capital

• demand

The amount of something the customers want:

• capital

• services

• demand

• supply

Scarcity means:

• Too much of something you wanted

• The exact amount of something you wanted

• Not enough of something you wanted

If 3 people want a candy bar, is there a scarcity?

• Yes, there is a scarcity.

• No, there is not a scarcity.

What happens when the supply is small?

• The prices stay the same.

• The price increases.

• The price decreases.

• The supply needs to be replenished.

visiting the dentist

• Income

• Expense