Economics Basics

The difference between the economic systems was the amount of ____________.

Jack is a fisherman because his dad was a fisherman. He never thought of doing anything else.

Which one? A lack of choices because the government makes the decisions & controls resources.

Which economy has both a public and private sector?

Your flower shop needs gardeners, a building, soil, and flowers. These are all...

If you burnt half the cookies you are selling, what should you do to the price of the rest?

If you are selling 3 cats and then one has 11 kittens, what should you do to the price of all?

An economy where the government has minimal regulations and the people compete for profit is a

If a shipment of 100 purple sunglasses arrive and you can't sell them. You should...

The Apple store sold out of the new iPhones. There is a 5 month wait. This best shows...

If price goes up, what happens to demand?

Keiry had $ to buy either a bathing suit or flippity flops. She chose flops. The suit was ___.

No one shows up to buy your good. You lower the price. This is mostly because of ...

Most countries have a ___________ economy.

If price goes down, what happens to supply?