Chapter 2 Exploring Economics

To become a U.S. citizen, people from other countries must go through a process called _______________

If Mrs. Gould didn't have to worry about opportunity costs, which item would she purchase?

Goods that are shipped out of a country and sold somewhere else

In a __ economy, the government has some control, but individuals also make choices.

_____ is the amount of something that a consumer wants to buy.

In a ____, the central government decides what goods will be made and who will receive them.

Rising prices are a sign of _____.

When people have the ability to write and speakly freely

_____ is the lack of a resource.

A _____ economy is a system in which custom decides what people do, make, buy, and sell.

This is a system in which each branch of government limits the powers of the other branches

_______ is money and goods used to help people make or do things.

This branch of government is known as the U.S. Congress and passes laws for the entire country

In order for people to make goods and offer services, people need

____ is the amount of a good or service that a producer wants to sell.

In a ____ economy, each person makes choices about why to make, sell, and buy.

_____________ includes the surface of the Earth and its natural resources.

_________ is the ability of people to do work.

_____ is the act of running a business and taking on the risks of that business.

______ is what is given up, such as time or money, to make or buy something.