Vocabulary to help study :)
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | The study of decisions -- the study of how people meet their wants and needs.
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| Goods | show 🗑
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| Services | show 🗑
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| show | People and businesses that sell/make goods or services
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| show | People who use or buy those goods or services given by a producer
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| show | The exchange of goods/services
Typically with money
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| show | Trading without money
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| show | An organized way for producers and consumers to trade goods/services
Typically involves cash but not always
Can be digital
i.e supermarket
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| Who | show 🗑
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| show | How many of the product should be produced
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| How | show 🗑
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| What | show 🗑
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| show | the resources producers use to make and sell the things consumers want and need
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| Land | show 🗑
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| Labor | show 🗑
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| show | Man-Made resources
Any tool, machine or man-made item that helps us do something
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| show | Starting a new business
People who take the risk and put all the factors of production together
Similar to labor but different
I.e Mark Zuckerberg
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| show | the amount of a good or service that is available, large supply means there is a lot
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| Demand | show 🗑
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| Supply and Demand | show 🗑
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| Scarcity | show 🗑
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| show | What you gave up when making an opportunity
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| show | a factor encouraging people to act a certain way
money: to work a job
good grades: to study
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To hide a column, click on the column name.
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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