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10 Cards in this Set
- Front
- Back
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Competition |
Struggle among producers for consumers money. |
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Consumer |
Person or business that buys,or consumes products. |
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Demand |
Desire for a particular good or service. |
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Economics |
Study of how people meet their wants and needs. |
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Inflation |
General increase in prices. |
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Producer |
Person or business that makes and sells products. |
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Profit |
Money a company has left after subtractimg the cost of doing a business. |
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Opportunity Cost |
Cost of what you have to give up when making a choice. |
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Recession |
Zero or negative economic growth for six or more months in a row. |
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Supply |
Amount of a good or service that is available for use. |
