money a company has left over after the costs of business

money earned by selling goods and services and by taxes

person or business that makes and sells products

cost of what you have to give up when making a choice

desire for a particular good or service

amount of good or service that is available for use

person or business that buys products

country with a strong economy and a high quality of life

organized way for producers and consumers to trade goods

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Vocabulary Review

10 termsStudBud Administration171 plays

Words and definitions

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Questions 10

Answers

1
Profit
money a company has left over after the costs of business
having a limited quantity of resources for unlimited wants
person or business that makes and sells products
tax on imports or exports
2
revenue
money a company has left over after costs of doing business
tax on imports and exports
person or business that makes and sells products
money earned by selling goods and services and by taxes
3
producer
person or business that makes and sells products
cost of what you give up when making a choice
amount of a good or service that is available for use
person or business that buys products
4
opportunity cost
amount of good or service that is available for use
cost of what you have to give up when making a choice
factor that encourages people to behave in a certain way
person or business that buys products
5
demand
money earned by selling goods and services and by taxes
desire for a particular good or service
amount of a good or service that is available for use
country with a strong economy and a high quality of life
6
supply
amount of good or service that is available for use
money earned by selling goods and services and by taxes
having a limited quantity of resources for unlimited wants
desire for a particular good or service
7
consumer
amount of good or service that is available for use
factor that encourages people to behave in a certain way
person or business that buys products
person or business that makes and sells products
8
developed country
tax on imports and exports
country with a strong economy and a high quality of life
organized way for producers and consumers to trad goods
country with a weak economy and lower quality of life
9
tariff
organized way for producers and consumers to trade goods
factor that encourages people to behave in a certain way
money earned by selling goods and services and by taxes
tax on imports and exports
10
market
organized way for producers and consumers to trade goods
person or business that makes and sells products
tax on imports and exports
country with a weak economy and lower quality of life

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