Economics Review

Lack of available resources.

• services

• scarcity

• goods

Someone who buys or uses goods and services.

• producer

• services

• consumer

Work that is done by others.

• services

• consumer

• economics

Products that can be bought and sold.

• producer

• goods

• services

What part of the economic spectrum would you find North Korea?

• On the left

• On the right

• In the middle

• It is traditional so it is not on the spectrum

What part of the economic spectrum would you find the United States?

• On the Left

• On the Right

• In the Middle

• It i not on the line it is traditional

How much of a good or service is available

• consumer

• supply

• money

How much of a good or service people want

• demand

• consumer

• cash

The government determining what, how, and for whom products and services are made is __________ economy

• MARKET
• COMMAND
• MIXED
• TRADITIONAL 

 Individuals and businesses decide what, how much, and for whom goods and services are produced is ________ economy. 

• COMMAND
• MARKET
• MIXED
• TRADITIONAL