Review Economics Basics

What does scarcity mean?

Erin gave Taylor her bag of Skittles. Taylor gave Erin his bag of M&M's. This is a(n)

Something useful that people do for others is called a

Sam went to the barber shop to get his hair cut by Dennis. Who is the seller in this scenario?

Economics is the

If you go to the bookstore and buy a book, that book is a

Mexican paper currency is called

The United States and _______ use a paper currency called "dollars".

If an item is in high ______, the item may be sold out.

When a product is scarce, the sellers may

Katie went to the doctor for a check-up. The doctor provided a _____.

A person who purchases goods and services from other people is called a

The Scholastic Book Fair brought over 600 books to our school. They have a large ____ of books.

Demand is

U.S coins

Outsourcing