Economics

Tools we use to make products

• capital resources
• human resources
• natural resources
• entrepreneurs

Individuals who come up with a new idea for a good or service, then they make it a reality

• resource
• human resources
• consumer
• entrepreneur

Something we pay for that we can touch

• goods
• services

People who work to make goods or provide services

• human resources
• capital resources
• natural resources
• entrepreneurs

A general increase in prices

• price
• inflation
• scarcity
• demand

The place where goods and services are exchanged

• barter
• currency
• market
• resource

Something we use from nature

• natural resource
• human resource
• capital resource
• entrepreneur

The money that remains after all the costs of production have been paid.

• Loss
• Supply
• Profit
• Tax

Economic system where government controls everything.

• Market
• Command
• Mixed
• Free Enterprise

If the supply of a good is higher than the demand, what happens to the price?

• It stays the same
• Price goes down
• Price goes up
• It's FREE!!