Economics Vocabulary

Front

What is economics?

Back

The process or system of goods/services that sold, bought, and produced in an area.

Front

The amount of something that is available and ready to be sold.

Back

supply

Front

The __________ was for water so great that the shelves were empty.

Back

demand

Front

Demand

Back

How badly people want a good or service.

Front

Someone who takes the risk to start and organize a business.

Back

entrepreneur

Front

An item or service that is to be sold to consumers is called a _________.

Back

product

Front

What does income mean?

Back

The amount of money made from a business or job.

Front

What is a monopoly?

Back

The control of a commodity (a good) or service.

Front

Something that is sold from one country to another or involving two or more countries.

Back

international

Front

Lisa made a ___________ of $22.35 after she subtracted her expenses.

Back

profit