Economic Terms

2. things people do for others in exchnage for money (doctor, dentist, mechanic)
4. of supply and demand determines the price of good and services
5. things required for survival (food, clothing, shelter)
7. using good and services
8. the combination of resources like capital, land, and labor, to make goods and services
9. products that people want or need, a general term for "stuff"
10. things that excite or motivate people to change their economic behavior
12. things that can be grown or manufactured, then are bought and sold; such as clothing, cars and homes
14. things consumers would like to have (cars, tv's, jewelry, etc.)
15. the amount of money exchanged for a good or service

1. the amount of a good or service that consumers are willing and able to buy at certain prices
3. cost what is given up when a choice is made
6. the study of how people use their limited resources to satisfy their unlimited wants
7. the selection of an item from possible alternatives
11. the inability to satisfy all wants at the same time
13. the amount of a good or service that producers are willing and able to sell at certain prices