Economics Vocab

Which principle of the American economic system is shown here?

Which economic factor has most likely determined the price in this picture?

All of the following are examples of consumption except -

The interaction of supply and demand determines the -

Which economic concept is illustrated in these drawings?

When faced with scarcity, consumers need to -

What is the opportunity cost of going to the movies?

All of the following are examples of consumption except -

Which shows a way competition has a positive effect on an economic system?

What label should be given to this graphic?

Joe's decision to go to dinner is an example of -

Companies can't ship as much plywood as the store wants. This illustrates the principle of -

What is the fundamental economic concept that requires these choices?

Which phrase best completes the title of this diagram?