Unit 7, Bundle 1: Global Supply and Demand

What term refers to the amount of a product or service available to consumers?

Which term best describes the willingness and ability of consumers to purchase a product?

What does the term "scarcity" mean in economics?

A situation where supply exceeds demand is known as:

Which of the following is an example of a natural resource?

The skills and knowledge of workers are referred to as:

Unequal access to resources and opportunities is known as:

The allocation of goods and services to consumers is called:

The international network of production and distribution is referred to as:

Mutual reliance between countries for goods and services is known as: