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Econ Flashcards | StudBud
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Econ
Econ
15 terms
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StudBud Administration
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3 plays
Econ review
Flashcards
15 cards
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Practice quiz
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Host live
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Questions
15
Answers
1
What is demand
Alot of people wanting a cetrain thing or someone?
or how many people work at a job
2
What is supply
Items you dont have
Or items you gave away
items you have in ur invetory?
3
Local businesses are sometimes better den company owned businesses?
True
False
4
What is Scarcity
Something that scares somebody they are scarred
the demand for a good or service
Or a business
5
What is a local business
Company owned
Goverment owned
Family owned
6
What is low demand
Or something thats really wanted
Something thats not really wanted
7
Whats a service?
A person who provides help for jobs?
a person who does stunts
or somebody that was in the war
8
What are some examples of human resources?
teacher,doctor,firefighter
wood,coal,iron
9
What is a want
Or food
Something you wanted like a PS5
10
what is competition
or fights over prices
War between store owners
or peace and love between store owners
11
What are natural resources
Items found in citys
Resources that are found naturly?
Or items made in factorys
12
What are resources
Money used to make products in our community.
Money used to make products in our community.
The basic things needed to buy products in our community.
13
What is a need
Videogames,Gucci bag, or money
Food,clothing,shelter
14
What is productitivy
Amount of items produced
Amount of objects sold
15
What is profit
Items a business sold for money?
the amount of production?
