Unit 1 Week 3

The need or want for a product or service by people who are willing and able to pay for it.

• Demand
• Price
• Market
• Supply

A person who sets up and runs their own business

• manager

• employee
• entrepreneur

• investor

The wearing down on Earth's surface, usually by wind and water

• Rocks

• Landforms

• Beach

• Erosion

The amount of goods and services that producers are willing and able to sell at a range of prices.

A section of Earth's crust that floats on the earth's mantle

• Continental Drift

• Divergent Plate boundary

• Tectonic Plates

• Convergent Plate boundary

The process of change, especially decomposition of rocks and other sediments due to chemical change.

Something that happens because of an action

• Consequence
• Outcome
• Effect
• Result

The money left over after all expenses have been paid.

An economic system in which people are able to start and run their own businesses with little control by the government.

• Open Market

• Communism
• Socialism

• Free Enterprise

The lack of a resource

• Surplus

• Scarcity

• Demand

• Discontinued