Supply and Demand

Front

What is demand?

Back

How many people want or need something

Front

What is a surplus?

Back

When the supply of a good or service is more than the demand.

Front

______ Is the value of what you give up when you make a choice.

Back

Opportunity Cost

Front

Focusing on making one product or service to sell or to trade is called...

Back

Specialization

Front

What is it called when we trade goods without the use of money?

Back

Bartering

Front

_____ Are goods brought IN from other countries

Back

Imports

Front

______ are goods sent OUT to other countries.

Back

Exports

Front

What are laws created by governments to protect consumers and workers called?

Back

Regulations

Front

Ms. Downey and Ms. Dewald reward students with Dojo points to encourage participation. This is an example of an...

Back

Incentive

Front

When supply is low and demand is high, prices...

Back

Go up