Economics Foundation

is unlimited wants but limited resources

is a period of economic slowdown 

Packaging milk into smaller containers to meet demand of people who live alone is:

a demand for a product that is not affected by price changes

is a period of growth and expansion

One who takes risk of owning and operating the business

when a product demand changes with changes in price, the product is

is a government prohibition against a product or nation

in North Korea, children are ________ than children brought up in South Korea

Resource: the employees of the business

when supply exceeds demand

Trade is good for

a resource that is anything natural such as oil, natural gas, coal, trees

China is what type of economy

Example of and Inelastic product is

is a limit on the number of specific products foreign companies can sell in a country

The largest consumer of goods and services in the USA?

is a period of prolonged and deep recession

refers to rising prices

USA and Japan are what type of economies

This person wrote "The Wealth of Nations" in 1776 that advocated Capitalism

The key to a market economy is

In terms of college what country offers free college to students who have a high good grades

when the amount supplied equals the product demanded

is a resource - money, tools, equipment needed for production

Canada has a  ___________ economy

What is the name of the trade agreement with Canada, Mexico, and USA

What currency is the strongest in terms of value and trade

The price on a supply and demand graph is

when demand exceeds supply

example of an elastic product

is a tax placed on imported goods