Economics Ch. 7-9 Vocabulary Quiz

selling people the things they need and want

• consumer

• supply and demand

• supply

an amount of something that is available for use

• consumer

• supply and demand

• supply

someone who buys and uses goods and services

• consumer

• supply and demand

• supply

the amount of money left after all the costs of running a business have been subtracted from all the money earned

• partnership

• profit

• charity

when two or more people get together to do something, such as owning a business

• partnership

• profit

• charity

an organization that sends money to help people in need

• partnership

• profit

• charity

a place where people buy or sell food or goods

• market

• competition

• supplier

the place or person you get a good or service from

• market

• competition

• supplier

a situation in which two or more people are trying to get the same thing

• market

• competition

• supplier