Ag Business

Flashcard
•
Science
•
11th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What happens to the price of a popular item when supply is low?
Back
The price will go up.
2.
FLASHCARD QUESTION
Front
What is the term for what a business has left after all the bills have been paid?
Back
Profit
3.
FLASHCARD QUESTION
Front
What is the term for the amount of goods or services available?
Back
Supply
4.
FLASHCARD QUESTION
Front
What do we call physical items that you can touch and see?
Back
Goods
5.
FLASHCARD QUESTION
Front
What is the term for a task performed for someone else, often in exchange for payment?
Back
Service
6.
FLASHCARD QUESTION
Front
What is the economic principle that describes the relationship between supply and demand?
Back
The law of supply and demand states that as supply increases, demand decreases, and vice versa.
7.
FLASHCARD QUESTION
Front
What is the difference between a need and a want?
Back
A need is something essential for survival, while a want is something desired but not essential.
Tags
NGSS.HS-ETS1-1
NGSS.HS-ETS1-3
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