Market and Economic Systems Vocab

Scarcity causes consumers to

When you can't get everything you want?

An economic market that has not changed much and is based on your family

Scarcity causes producers to .....

The amount producers are willing to sell.

Which type of economic system is the U.S.?

The amount consumers are willing to buy

If price is too high, .....

If the price is low, .....

Which of the following is not a type of resource?

The government has control in which market?

Combining resources to produce goods is called

If price is high, ....

A truck is what type of resource?

Making a choice results in?

The using of goods and services is?

What does the interaction between supply and demand decide?

Trees are what type of resource?

Private ownership of property and resources characterizes

A waiter at a restaurant is which type of resource?