Lesson 9: Free Market Economy

Front

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

Back

Supply

Front

A(n) ____________________ is something that leads a person to make a certain choice.

Back

Incentive

Front

The total amount of a good or service that customers will buy at all prices is called

Back

Demand

Front

The amount of money earned by a business after costs are removed is called

Back

Profit

Front

Which of the following people is earning money by providing a service?
Options:
Anthony grows fruit to sell,
Laura sews stuffed animals,
Carl sells lemonade he makes,
Marie teaches a third grade class

Back

Marie teaches a third grade class

Front

Which of the following will increase the profit at a lemonade stand?
Options:
using cheaper lemons,
using more ingredients,
selling during cold weather,
giving glasses of lemonade away for free

Back

using cheaper lemons

Front

At Georgia's fruit stand, she sells apples. The __________ of apples is how many she has to sell.

Back

Supply

Front

Oprah and Bill Gates are entrepreneurs because they...?

Back

Took risks to start their own businesses

Front

Which of the following is the main goal of a charity? Work on TV shows, Give money to people in need, Make billions of dollars in profit, Create computer programs to sell

Back

Give money to people in need

Front

A new toy becomes very popular, and many people want it. How will the price of the toy change?

Back

Prices will go up.