Economics Vocab

2. type of economy where goods and services are acquired through bartering and trade
4. how much of a product or service you have available to sell
6. economic_______________ are structures that determine who is in control of how goods and services are bought and sold
11. the desire of a consumer to buy a good or service
12. intangible, or untouchable action a person performs
15. when there is an excess of a service or good
16. type of economy where governments decide what to buy and sell
18. jobs or workers needed to create a product or service

1. type of economy where individuals decide what to buy and sell
3. all of the business related to a good or service
5. people who start a business in hopes of making a profit
7. the area needed to get raw materials and natural resources to produce a good
8. a tangible or touchable products that can be bought or sold
9. the man made things needed to produce a good or service
10. when there is a shortage of a good or service
13. a system for how good and services are bought and sold in a society
14. market ________________ is the price where supply and demand meet
17. type of economy where individuals and governments decide what to buy and sell