Market Economy Vocab
Flashcard
•
Social Studies
•
12th Grade
•
Hard
Wayground Content
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22 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Producers competing for profit
Back
Competition
2.
FLASHCARD QUESTION
Front
Limited resources available
Back
Scarcity
3.
FLASHCARD QUESTION
Front
Number of consumers wanting something.
Back
Demand
4.
FLASHCARD QUESTION
Front
Buying and selling activity in the world.
Back
Market
5.
FLASHCARD QUESTION
Front
Benefit given up by choosing one option over another.
Back
Opportunity Cost
6.
FLASHCARD QUESTION
Front
Amount of something available.
Back
Supply
7.
FLASHCARD QUESTION
Front
Economic theory where trade and industry are privately owned for profit, not state-controlled.
Back
Capitalism
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