SS 11 - Economics

Front

When there is not enough of a certain good this is known as?

Back

scarcity

Front

The total amount of a good or service that is available to buy is called

Back

supply

Front

How willing people are to buy goods or services is called...

Back

demand

Front

The exchange (goods or services) for other goods or services without using money.

Back

barter

Front

A tax or duty to be paid on imports or exports.

Back

tariff

Front

Earnings a business takes in that exceed their costs.

Back

profit

Front

Goods brought into the country from another.

Back

import

Front

Goods sent out of the country to another.

Back

export

Front

The economic system where the people carry out their economic activities without government control.

Back

capitalism

Front

The economic system where the government has control of how goods and services are distributed.

Back

communism