Economic Vocabulary Quizzizz

exchange of goods and services in a market

• trade

• market

• demand

• consumers

the desire for a certain good or service

• Demand

• Supply

• Scarcity

• Market

people or business that make and sell products

• Consumer

• Producer

• Demand

• Supply

 the amount of good or service that is available to use

• Supply

• Demand

• Scarcity

• Inflation

general increase in prices

• Inflation

• Recession

• Supply

• Demand

people or businesses that buy products

• Consumer

• Producer

• Market

• Trade

an economy in which individual consumers and producers make economic decisions. This is also called capitalism or free market

• Market Economy

• Command Economy

• Mixed Economy

• Traditional Economy

an economy that combines elements of traditional, market, and command economic systems

• Market Economy

• Command Economy

• Mixed Economy

• Traditional Economy

an economy in which the central government makes all economic decisions, communism is a form

• Command Economy

• Market Economy

• Traditional Economy

• Mixed Economy

the study of how people meet their wants and needs

• Economy

• Supply

• Trade

• Recession