Economics Terminology SOL CE11A

Type of resource that includes the idea and willingness to make the good or service?

What do we call things that motivate consumers such as coupons, discounts, and special rates?

Type of resource that includes those things from the Earth?

What do we call making a selection from a set of alternatives?

Type of resource that includes the labor to make the good or service?

The amount of a good or service that is desired at a certain cost is called what?

What do we call the using of goods and services?

What happens when demand is greater than supply?

What does the interaction of supply and demand determine?

What happens to price when supply is more than demand?

What does scarcity lead to?

What is the amount of money exchanged for a good or service called?

What term means the inability to satisfy all wants and needs at the same time?

The amount of a good or service produced at a certain price is called?

What do we call the making of a good or service?

Type of resource that includes money?

What do we call what we give up when we make an economic choice?