unit 2 economics

____________ when supply is greater than demand.

Name 4 people who provide services

the study of economic decisions that affect the economy of a nation

Limited resources force individuals, businesses and nations to make ________

the study of economic decisions made by consumers and producers that affect individuals in an economy

anything used to produce goods and services

The _______ of a decision is what is given up when the alternative choice is not selected.

the risk-taking resource

money, buildings, machinery and equipment used to produce goods and services

Oil, a fossil fuel is a ________ resource

people who buy and use goods and services

The people and businesses that provide goods and services

_________ is an economic system used by many nations, including the United States.

__________ is the study of how things are bought and sold

Individuals own businesses to make a profit

______ is when the demand is greater than supply