Economics Terms and Concepts

The benefit you give up choosing one thing over another is...

Reasons people want to come into or join another country are known as....

Someone who acquires goods and services is a...

Producers battling over who can make the most profit are in...

When there are limited resources available, there is...

I buy tickets to Captain America: Civil War before they sell out. I put them on Ebay. Price?

Wheat crops are very limited due to a drought. You own a bakery. What happens to your prices?

Someone who makes goods or offers services to others is a...

Reasons people leave a country are called

To enter into a new country is...

When supply perfectly meets demand it is called...

Vikrum leaves India to move into the United States is an example of...

The need or desire people have for goods and services is known as...

Something that motivates consumers and producers to do something is a(n)...

The study of how goods and services are created, sold, and used is...

Trees, Gold, Oil, Water, and other Natural Raw Materials are considered...

I spent $20 on ingredients for cupcakes. I sell $100 worth of cupcakes. My what is $80? 

The amount of something that is available is...

I hoarded mint dolls of ALF to sell for $1,000. I forget it is 2016. What happens to my price? 

My country sells a product to another country. This is an example of....