Social Studies Economics

The places that provide goods and services that people need and want are called _______

What is a want?

What is supply?

Capital resources are

_________ and _________ are the things we can buy and the things that other people do for you.

What is Opportunity Cost?

The process of making a good is how businesses __________ their goods.

When the supply is high and the demand is low, the price goes up.

Anything that comes from nature that we use to produce goods and services.

A nail salon's chairs, nail polish, lights, powders, brushes are all part of their

The wants that we have that are met by goods and services are called our

Some of our most important natural resources are:

When you don't have enough of something you are experiencing

What Is Trade?

People who produce the goods and services are called

When people or businesses produce a specific kind of good or service it is called

When the supply is low and the demand is high, the price goes up.

What is interdependence?

What is a need?