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Economics Vocabulary
Economics Vocabulary
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4th grade Economic Vocabulary Economy
Flashcards
15 cards
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Questions
15
Answers
1
What is the amount of product a company sells at a certain price?
Supply
Scarcity
Free Market
Competition
2
The 3 florist in Marshville will try to gain more customers than the other in a friendly ______
Scarcity
Competition
Producer
Demand
3
The ___________ were busy trying to keep up with the demand for the newest video game.
Producers
Demand
Economics
Free Market
4
What you call someone who buys products?
Consumer
Productivity
Market Economy
Economics
5
What is the environment we live in where you can create your own business and products.
Demand
Consumer
Free Market
Economics
6
The ___________ for milk and bread was high due to the prediction of a winter storm.
Economics
Competition
Free Market
Demand
7
The _________ were asked to complete a survey about the products they just bought online.
Scarcity
Market Economy
Consumers
Productivity
8
What is the study of how and why businesses work?
Scarcity
Free Market
Demand
Economics
9
Our economy revolves around prices of items determined by people and what they want to buy?
Market Economy
Scarcity
Supply
Free Market
10
What is the result when a company does not make enough product for the public demand?
Competition
Market Economy
Scarcity
Producer
11
When two or more companies sell the same products, & increases sells through gaining customers
Productivity
Competition
Demand
Producer
12
What is figuring how much product a company can create with its resources?
Producer
Supply
Free Market
Productivity
13
What is the amount of product a consumer (customer) is willing to buy for a certain price?
Producer
Competition
Demand
Economics
14
The study of _______ will help you understand how successful businesses operate.
Consumer
Supply
Economics
Demand
15
What do we call companies, like Reebok, Oscar Mayer, that make the products we buy?
Free Market
Scarcity
Producer
Competition