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WorksheetsEcon Vocab for Lemonade War
Total questions: 24
Worksheet time: 12mins
Slump
a drop in the activity of a business or the economy
organization involved in the trade of goods or services or both to consumers
the production, distribution or trade, and consumption of limited goods and services by different companies in a given location
different between the money people make when they produce and sell a good or service and all their costs of production
business
organization involved in the trade of goods or services or both to consumers
the production, distribution or trade, and consumption of limited goods and services by different companies in a given location
different between the money people make when they produce and sell a good or service and all their costs of production
gifts of nature that are used in the production or goods/services
economy
the production, distribution or trade, and consumption of limited goods and services by different companies in a given location
different between the money people make when they produce and sell a good or service and all their costs of production
gifts of nature that are used in the production or goods/services
goods produced and used to make other goods or services
profit
different between the money people make when they produce and sell a good or service and all their costs of production
gifts of nature that are used in the production or goods/services
goods produced and used to make other goods or services
people who work to produce goods and services
natural resource
gifts of nature that are used in the production or goods/services
goods produced and used to make other goods or services
people who work to produce goods and services
in short supply; not enough
breakup
dissolution of a unit, an organization, or a group of organizations
describe or draw attention to a product, service or event in a public medium in order to promote sales or attendance
two or more people joining forces to sell a certain amount of goods or to work on a single project
what people pay when they purchase a good or service
market
this exists whenever people buy and sell goods and services, where prices are determined
when you make a decision, the most valuable alternative that you give up
rivalry in the marketplace
pricing the same goods for less than the competition
opportunity cost
when you make a decision, the most valuable alternative that you give up
rivalry in the marketplace
pricing the same goods for less than the competition
an object people want that they can touch or hold
capital resource
goods produced and used to make other goods or services
people who work to produce goods and services
in short supply; not enough
dissolution of a unit, an organization, or a group of organizations
human resources
people who work to produce goods and services
in short supply; not enough
dissolution of a unit, an organization, or a group of organizations
describe or draw attention to a product, service or event in a public medium in order to promote sales or attendance
scarcity
in short supply; not enough
dissolution of a unit, an organization, or a group of organizations
describe or draw attention to a product, service or event in a public medium in order to promote sales or attendance
two or more people joining forces to sell a certain amount of goods or to work on a single project
joint venture
two or more people joining forces to sell a certain amount of goods or to work on a single project
what people pay when they purchase a good or service
this exists whenever people buy and sell goods and services, where prices are determined
when you make a decision, the most valuable alternative that you give up
price
what people pay when they purchase a good or service
this exists whenever people buy and sell goods and services, where prices are determined
when you make a decision, the most valuable alternative that you give up
rivalry in the marketplace
competition
rivalry in the marketplace
pricing the same goods for less than the competition
an object people want that they can touch or hold
action that a person does for someone else
underselling
pricing the same goods for less than the competition
an object people want that they can touch or hold
action that a person does for someone else
someone who takes the risk to develop a product or start a new business
goods
an object people want that they can touch or hold
action that a person does for someone else
someone who takes the risk to develop a product or start a new business
to trade or buy without the use of money
service
action that a person does for someone else
someone who takes the risk to develop a product or start a new business
to trade or buy without the use of money
goods and services available
entrepreneur
someone who takes the risk to develop a product or start a new business
to trade or buy without the use of money
goods and services available
how many customers want to buy a product
barter
to trade or buy without the use of money
goods and services available
how many customers want to buy a product
desires that can be satisfied by consuming a good, service, or leisure activity
supply
goods and services available
how many customers want to buy a product
desires that can be satisfied by consuming a good, service, or leisure activity
food/water, shelter and clothing
demand
how many customers want to buy a product
desires that can be satisfied by consuming a good, service, or leisure activity
food/water, shelter and clothing
people or businesses mutually depending on each other
economic wants
desires that can be satisfied by consuming a good, service, or leisure activity
food/water, shelter and clothing
people or businesses mutually depending on each other
a drop in the activity of a business or the economy
economic needs
food/water, shelter and clothing
people or businesses mutually depending on each other
a drop in the activity of a business or the economy
organization involved in the trade of goods or services or both to consumers
interdependence
people or businesses mutually depending on each other
a drop in the activity of a business or the economy
organization involved in the trade of goods or services or both to consumers
the production, distribution or trade, and consumption of limited goods and services by different companies in a given location
