Economics Review

Front

A useful material found in the environment

Back

Natural Resource

Front

A resource that Earth or people can replace is

Back

Renewable Resource

Front

A resource that can't be replaced in a short period of time

Back

Nonrenewable Resource

Front

The desire for a certain good or service

Back

Demand

Front

The amount of a good or service available

Back

Supply

Front

This occurs when the supply is low and the demand is high

Back

Scarcity

Front

If the demand is low, the price will be

Back

Low

Front

If the weather was cold and rainy, the demand for lemonade would be...

Back

Low

Front

If the weather was hot and sunny, the demand for lemonade would be...

Back

High

Front

If you charged too much for a cup of lemonade, the demand would be...

Back

Low