class 11 introduction to microeconomics

A person who buys goods and services

• consumer
• entrepreneur
• resource
• currency

Tags

CCSS.RL.7.1

CCSS.RL.7.2

CCSS.RI.7.2

CCSS.RL.6.1

CCSS.RI.8.2

another word for money

• barter
• economics
• currency
• price

The making, buying and selling of goods and services

• economics
• inflation
• market
• barter

Economics is...

• studying goods, services, and how people can get them.
• studying trees, bushes, and other plants.
• studying animals and wildlife.
• studying food, and how food is made.

The people who grow or create goods are called...

• producers
• consumers
• banker
• traders

How do most people obtain goods or services today in America?

• Money
• Trading
• Bartering

Economic system where government controls everything.

• Market
• Command
• Mixed
• Free Enterprise

Type of Economy that is half command and half market

• Traditional
• Command
• Market 
• Mixed

The good or service that you give up when you make an economic choice is called _____________________.

• opportunity cost

• economic choice

• economic interdependence

• economic specialization

The choice between two goods or services is known as ___________________.

• scarcity

• opportunity cost

• economic choice

• economic specialization