Unit 5 Topic 1 Economy

when there is extra of something

If demand decreases, the price will go _________.

What is something you HAVE to have? You cannot do without these things.

What is something that someone does for you? Like give you a haircut, cook dinner or teach you

What is something you would LIKE to have? You DO NOT have to have these things to survive.

Someone who provides goods or services

What you give up to get something else

people produce only some of the goods and services they consume

What is something you can use or consume? Like food, DVDs, books, a car or clothes.

how much something cost

how much of something people want

If supply increases, the price will go ____________

If demand increases, the price will go __________

people depend on each other to get the goods and services they need and want

If supply decreases, the price will go ___________

businesses that sell the same product and try to sell them to customers

Someone who purchases or uses goods or services

How much of something is available

what businesses might do to compete with another company