Alabama: Week 11

Front

A ___ _______ is someone who makes a good or provides a service.

Back

producer

Front

People who buy goods and services are called __________.

Back

consumers

Front

When a consumer doesn't buy enough of a good or service it may cause producers to __________ the cost of it.

Back

decrease

Front

__________ is not having enough of something.

Back

Scarcity

Front

The products a person gives up when having to make a choice is __________.

Back

opportunity cost

Front

__________ is mutually relying on each other to get things done.

Back

Interdependence

Front

__________ is when you buy, sell, or exchange a good or service for something else you want or need.

Back

Trade

Front

__________ is the amount of product that is available.

Back

Supply

Front

__________ is the amount of product people actually want or need.

Back

Demand

Front

When there's a greater supply of something than a demand for it, it's called a __________.

Back

surplus