Economics

the study of production, distribution, and consumption, or use of, goods and services that are available

• consumers

• economics

• demand

• supply

People who buy goods and services

• consumers

• scarcity

• supply

• economics

Customers desire to buy a particular thing or service

• supply

• demand

• consumers

• manufacture

the amount of goods or services available

• demand

• supply

• interest

• manufacture

any item that can be bought or sold is a

• supply

• good

• service

• consumer

any action that one person or a group does for another in exchange for payment

• goods

• services

• interest

• trade agreement

private businesses make decisions about what they produce and sell and what prices to charge - then individuals choose what to buy

• free market economy

• strong economy

• cheap economy

• government economy

the struggle among producers for the money consumers spend

• monopoly

• competition

• interest

• specialize

a limit to what we have

• scarcity

• interest

• specialize

• supply

the thing you give up to get the thing you want

• opportunity cost

• benefit

• goods

• needs