Introduction/Fundamentals word wall

​The branch of knowledge concerned with the production, consumption, and transfer of wealth is (a)   , or simply the study of how we choose to use scarce resources in order to satisfy our wants.

• economics
• comparative advantage
• shortage
• scarcity
• resources

​ (a)   is when not enough is produced;

 it is a situation in which the demand for a product or service exceeds its supply in a market

• Shortage
• scarcity
• economics
• resources
• comparative advantage

​ (a)   is where there is a limited supply of resources;

or there are insufficient resources, goods, or abilities to achieve the desired ends

• Scarcity
• economics
• shortage
• resources
• comparative advantage

​ ​ (a)   are the goods or services available to individuals and businesses used to produce valuable consumer products

• Resources
• economics
• scarcity
• shortage
• comparative advantage

​ (a)   is the ability of a group or individual to carry out a particular economic activity more efficiently than another activity or the ability to produce something with a lower opportunity cost

• Comparative advantage
• Economics
• Scarcity
• Shortage
• Resources