Economics Vocabulary

3. people or businesses that buy or consume or use products
6. the struggle among producers for consumers' money
7. a type of economy in which individuals make economic decisions (also called capitalism)
9. money a company has left after subtracting the costs of doing business
11. people or businesses that make and sell products
12. the amount of good or service that is available for use
14. the desire for a certain good or service
16. the cost of what you have to give up
19. a government law or policy that restricts international trade

1. a type of economy in which the government has control over all economic decisions
2. the business practice of concentrating on a limited number or type of products
4. goods produced by a country and sold outside its borders
5. goods brought into a country from other countries
8. the study of how people get what they want and need
10. a word that describes a country with a strong economy and high standard of living
12. a limited amount of resources to meet unlimited wants
13. the money earned by selling goods and services
15. the total value of all goods and services produced in a country in a year
17. a tax on imports
18. a type of economy influenced by customs and habits and where wants and needs are met by farming and hunting