Market and Economic Systems Vocab

The amount consumers are willing to buy

A truck is what type of resource?

An economic market that has not changed much and is based on your family

If price is too high, .....

The using of goods and services is?

The amount producers are willing to sell.

Scarcity causes producers to .....

If the price is low, .....

Trees are what type of resource?

The government has control in which market?

Making a choice results in?

Which type of economic system is the U.S.?

What does the interaction between supply and demand decide?

If price is high, ....

Combining resources to produce goods is called

When you can't get everything you want?

A waiter at a restaurant is which type of resource?

Private ownership of property and resources characterizes

Scarcity causes consumers to

Which of the following is not a type of resource?