Eco 1

What is the study of how governments, businesses and people use their money?

If the supply of goods or services is high in demand is low what will the price to do?

If the supply of a good or service is low and demand is high the price will

Miss New wants to go to the beach for fall break but she also needs new tires for her car because she does not have enough resources to do both she decides to buy new tires giving up the chance to go to the beach because she spent her resources on tires is called

Ford motor company makes automobiles they have became very good at making automobiles and they don’t try to also make skateboards computers and furniture they focus on producing automobiles because that is what they are good at producing they are demonstrating

Ford motor company makes automobiles they have became very good at making automobiles and they don’t try to also make skateboards computers and furniture they focus on producing automobiles because that is what they are good at producing they are demonstratin

Because the Hershey company point $.23 to produce a kit Kat candy bar and I can sell it for $.99 what is their profit

• $.99

• $.70

• $.76

• $.87

Which of the following are goods

• Sell phones

• Trash pick up

• Car washes

• Big Macs

• Dirt bikes

Low prices are incentive to what?

High price is our incentive to?

What is the difference between supply and demand