4th Grade Economics

the amount of goods and services that people want to buy

an economic system used in the United States where supply and demand determine prices

the amount of goods or services that are available for a consumer to buy

When the supply of an item decreases, the price of that item will

When the supply of an item increases, the price of that item will 

Which of the following is an example of a negative economic incentive?

people who perform the work to produce goods and services

Which of the following is an example of a positive economic incentive?

the study of how a society produces, distributes, and uses goods and services

things from nature that people use to meet their needs and wants

what happens when people’s wants and needs are unlimited and resources are limited

when businesses sell the same goods or services

the next best thing you give up when you make a choice

trading goods and services with others for other goods and services or money