unit 2 economics

anything used to produce goods and services

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

______ is when the demand is greater than supply

Name 4 people who provide services

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

____________ when supply is greater than demand.

Oil, a fossil fuel is a ________ resource

Limited resources force individuals, businesses and nations to make ________

the risk-taking resource

people who buy and use goods and services

Individuals own businesses to make a profit

__________ is the study of how things are bought and sold

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

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

The people and businesses that provide goods and services

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