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Economics

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Economics Terms

CheriTorres
Created Date 09.12.20
Last Updated 09.12.20
Viewed 11 Times
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Topics of this game:
  • not enough resources to produce everything people want & need
  • the chance you pass up when you make a choice/decision
  • resources needed to produce goods and services
  • human-made goods that people use to produce other goods and services
  • U.S. economy where buyers & sellers freely choose to buy/make what they want
  • anything owned by individuals or groups rather than the government
  • the amount of good or service available at a certain price
  • how much consumers will buy at a certain price
  • tariff, import quota, embargo
  • tax on imports
  • restricts the number of units of a product that can be brought into the country
  • bans the import/export of a good