The situation exists when there is unlimited but not enough supply of a good or service is called _________.

When a country focuses on producing the goods and services that it can makes best and trading it for what it is unable to produce is known as _____________.

___________ is the study of how decisions are made about how to allocate (distribute) limited resources in order to satisfy our unlimited wants.

___________ occurs when a country focuses on producing the goods and services they can make best and trading for what they are unable to produce.

Specialization and scarcity lead to _______ among individuals or organizations within a country, as well as individuals or organizations between other countries.

Learning about trade allows you to study how people organize production, distribution, and consumption of goods; plus, it prepares you to understand ___________ (having to do with one's own country) and global issues.

The development of an increasingly worldwide economy is known as ___________.

Air to breathe, food to eat, water to drink, shelter to live in, and clothing are humans basic ______.

Scarcity requires that consumers and producers to make __________ with their limited resources.

Which type of economy three aspects define it by relying heavily on agriculture, the tendency to barter, and economic decisions are often being made on the basis of customs, beliefs, or habits.

What type of economy is where the government answers the three questions of what goods and services to produce, how will they be produced, and for whom to produce them?

The economy where economic decisions are made at an individual level rather than a government level is known as a _________ economy

The combination that results of command and market economies is a ______ economy.