Studies Weekly, Week 6: Economic Principles

_______________ are goods sent to another country to be sold.

• Imports

• Exports

• Shortage

• Supply

_____________ are goods that are brought in from another country.

• Producer

• Consumer

• Imports

• Exports

_____________is when you buy, sell, or exchange a good or service for something else you want or need.

• Trade

• Shortage

• Supply

• Demand

_______________is the value of what you give up when you make a choice.

• Opportunity Cost

• Shortage

• Scarcity

• Demand

___________ is not having enough of something.

• Supply

• Demand

• Scarcity

• Shortage

_______________ is the amount of product people actually want or need.

• Consumer

• Supply

• Demand

• Opportunity Cost

___________ is the amount of product that is actually available.

• Supply

• Demand

• Exports

• Producer

People who buy goods and services are called _____________.

• Producers

• Demand

• Shortage

• Consumers

A ______________ is when something you need can't be found in the amount needed.

• Scarcity

• Shortage

• Opportunity Cost

• Trade

A _____________ is someone who makes a good or provides a service.

• Producer

• Consumer

• Supply

• Imports