Economics Review for Third Grade

Opportunity cost is

If the demand for a good is high and the supply is low, then the price would

How much of something is available is

When people trade with goods and services instead of paying with money it is called

A consumer who is purchasing something is also called a...

Competition is

When people make an income, they create a plan for their money, which is called a

When the demand is low and the supply of a good is high, the price of that good would

The want for a good or service is

Another name for a producer is a...

When a supply of a good is low, it would also be scarce.