What is scarcity?
Economics
Flashcard
•
Social Studies
•
3rd Grade
•
Hard
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10 questions
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1.
FLASHCARD QUESTION
Front
Back
when there is a shortage or limited amount of something
2.
FLASHCARD QUESTION
Front
What is economics?
Back
the study of buying and selling goods/services
3.
FLASHCARD QUESTION
Front
What is opportunity costs?
Back
when things are limited you have to make a decision
4.
FLASHCARD QUESTION
Front
What is consumption?
Back
the purchase and use of goods and services
5.
FLASHCARD QUESTION
Front
What is production?
Back
to create or make goods/products
6.
FLASHCARD QUESTION
Front
What is interdependence?
Back
people depend on one another for their goods and services
7.
FLASHCARD QUESTION
Front
What is income?
Back
the money you earn
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