Economics and Demand Basics

Best answer for " consumers will buy more at a lower price because they can _________  more "

What term means holding everything constant except price?

Cuba and China have this type of economic system where everything is owned by the government

What is the concept of a society or individual having unlimited wants and limited resources? 

What activity is advertised on the front cover (bottom right )of your Rennie workbook? 

Example of something someone does for you - a service 

Wind and sunshine are ......

Veggie burger, smoothie, sushi - if I  decide on the burger what is the opportunity cost? 

Law of demand - a fall in price leads to and increase in .........

What is the surname of the author of your workbook?

Which one is an example of a value?

The study of how people distribute scarce resources

How many hours are there in a day? 

A decision between 2 alternatives 

Goods that are scarce and have a cost

What word best describes what happens when people make choices that others don't agree with? 

The real cost of any decision

Key principles or core beliefs 

What do we call things we desire but do not need for survival ?

Which is not a factor affecting values?

Label  on a demand curve 

Individuals or households that use goods and services 

Goods with a physical presence are ? 

A good or service used in conjunction with another good or service....

As prices go up, consumers want to buy less and less of a product

French term for the philosophy that says the government should stay out of the economy

What is the AS number of this unit ?

What is the little turquoise text book called ?

The people or organisations who use resources to create goods and services

Things people must have to sustain life