Economics Vocabulary

What is economics?

• The process or system of goods/services that sold, bought, and produced in an area.

• The system where people move from place to place.

• The process of goods being sent into another country.

• I haven't got a clue.

The amount of something that is available and ready to be sold.

• demand

• supply

• income

• profit

The __________ was for water so great that the shelves were empty.

• say...what?

• supply

• demand

• international

Definition for demand....

• The amount of money made from a business.

• The control of a commodity (a good) or service.

• Something that is owed to someone else.

• How badly people want a good or service.

Someone who takes the risk to start and organize a business.

• entrepreneur

• debt

• consumers

• shortage

An item or service that is to be sold to consumers is called a _________.

• profit

• product

• economics

• income

What does income mean?

• The amount of debt one goes into when starting a business.

• How much allowance your parents give you weekly.

• The amount of money made from a business or job.

• Ten dollars

What is a monopoly?

• A board game that people play.

• Something you find at the store.

• The control of a commodity (a good) or service.

• Too small of an amount.

Something that is sold from one country to another or involving two are more countries.

• international

• national

• consumers

• entrpreneur

Lisa made a ___________ of $22.35 after she subtracted her expenses.

• debt

• checkbook

• shortage

• profit