Economics Lessons 10-15

Part of a person's income that is NOT spent on good and services and not used to pay taxes.

The money a firm earns when it sells a good or service. The amount earned BEFORE expense.

An outlay or expenditure of money, time, labor, or trouble.

The quantity of product, producers are willing and able to make available for sale.

People & businesses use money to purchase capital goods, increase skills & abilities of workers

The making of goods or services & must take place to supply goods and or services.

Measures the market value of ALL goods and services over a period of time.

A surplus left to a producer or employer AFTER deducting wages, rent, & cost of materials.

The price at which a good or service is selling in the open market.

A persistent increase in the price of most or all goods and services over a period of time.

A theory explaining the interaction between the supply of a resource and the demand for it.

The act of practice of calling public attention to one's product, services, or need through TV.