If there are 4 pieces of pie and 3 people, is there scarcity?

I bought a lollipop for $1 and sold it to my sister for $2. Did I make a profit or incur a loss?

The process of choosing one good or service over another. The item not chosen is the __________.

I go to the doctor for a checkup. The doctor is providing a __________.

trading one good or service for another is

I buy an apple at the supermarket. The apple is a

I give Sam $4 for a sandwich. Is this an example of bartering?

I couldn't buy the mint chocolate chip ice cream because there was none left. This was because it was in high _______.

I had to get a cherry lollipop instead of blue raspberry because that was all that was left. The cherry lollipop was in high ______

Scarcity occurs when there is not enough of something and people must make choices.

Anyone who buys a good or a service is a _____.

Anyone who makes or grows a good or a service is ____.

I buy a pair of shoes for $50. They don't fit so I sell them to my friend for $35. Did I make a profit or incur a loss?

I go to the store to buy a snack. I narrow my choices to a bag of Doritos or a chocolate chip cookie. I decide to buy the cookie. The Doritos are my _____.