Economics

the study of how people meet their wants and needs

• economics

• geology

• geography

• biology

the amount of a good or service that is available for use

• incentive

• market

• supply

• demand

having a limited quantity of resources to meet unlimited needs

• competition

• inflation

• profit

• scarcity

people or businesses that make and sell products

• producers

• consumers

• imports

• exports

people that buy, or consume, products

• producers

• consumers

• market

• imports

the cost of what you have to give up

• supply

• demand

• opportunity cost

• trade barrier

the desire for a certain good or service

• supply

• scarcity

• profit

• demand

a factor that encourages people to act in a certain way

• supply

• incentive

• profit

• interest

an organized way for producers and consumers to trade goods and services

• economics

• productivity

• trade barrier

• market

the struggle among producers for consumers' money

• demand

• consumers

• producers

• competition