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Topic 1 Lesson 6
Semester 1
| Question | Answer |
|---|---|
| Economics | Study of how people meet their wants and needs |
| Demand | desire for a particular good or service |
| Supply | Amount of a good or service that is available for use |
| Producer | Person or business that makes goods or services |
| Consumer | Person or business that buys or consumes, goods or services |
| Opportunity Cost | Cost of what you have to give up when making a choice |