Economics

Does this business provide a good or service?

Does this business provide a good or service?

Does this business provide a good or service?

Does this business provide a good or service?

Name a business in your community that sells a good and a service.

A producer is:

• someone who provides a good or a service

• someone who buys a good or a service

Ellie has soccer practice the same night as the concert for her favorite band. She cannot miss practice without getting in trouble, so she has to miss the concert. What is the opportunity cost?

The Bird Flu has been going around farms all over the United States. Many chickens are sick and even dying. There aren't many eggs for consumers and prices are skyrocketing. What is the example of scarcity?

The Bird Flu has been going around farms all over the United States. Many chickens are sick and even dying. There aren't many eggs for consumers and prices are skyrocketing. What is the example of supply and demand?

Something used to motivate

• scarcity

• Opportunity Cost

• surplus

• incentive