Economy Quiz

Someone who makes / sells goods / services

• Producer

• Consumer

• Supply

Limited government involvement in the economy

• Opportunity cost

• Reserve

• Market Economy

The way goods and services are produced and consumed

• Consumer

• Economy

• Demand

Someone who buys goods/services

• Consumer

• Producer

• Scarcity

Money gained by selling something for more than it cost to make

• Reserve

• Loan

• Profit

The amount of something that is available

• Demand

• opportunity cost

• Supply

The number of consumers who want/need something

• Demand

• Supply

• Opportunity Cost

Limited number of resources to meet unlimited wants and needs

• Scarcity

• Loan

• Buying on Credit

The benefit you give up by choosing one thing over another

• Opportunity cost

• Market economy

• Loan

Paying the bank to let you borrow money; how banks make profits

• Reserve

• Scarcity

• Loan