People who buy goods or services

goods a person have to survive

Studies of how individuals and nations make choices about ways to use scarce resources to fulfill their needs and wants

What are the three resources to make goods and services

Giving up one good or service for another

the cost of the next-best use of time or money when choosing to do one thing or another

people or businesses that provide goods or services

the amount of a good or service that people are willing and able to buy at various prices at a given time period

amount of a good or service producers are willing and able to sell over a range of prices

Price:The dollar amount of a good or service determined in the market place

situation in which SUpply is greater than demand

a situation in which demand is greater than supply

What are the three basic Economic questions?

What are the three basic types of Economic Systems?

Scarcity leads to what?

what leads to scarcity?