Something you can feel, or any kind of merchandise is a(n)

How much a good is wanted by consumers is called

_________ means that there are limited resources and therefore, people must make choices.

Anyone who buys a good or a service is called a

Anyone who makes or grows a good or performs a service is called a

The process of choosing one good or service over another is called a(n)

When deciding what to purchase, the item you do not choose is called a(n)

When a producer sells an item for more than he/she paid for them it is called a(n)

When a producer sells an item for less than he/she paid for them it is called a(n)

You paid $10.00 to purchase a video game, and you sold it for $25.00. Are you

. _______________is when an individual or a company specializes in doing one part of a task, and relies on others to complete the other parts.

__________________is when people depend on one another.

_____________are the money that the government collects from individuals and businesses to pay for public goods and services

_______________________is a percentage of money taken out of your income.

A(n)________________is a person who comes up with a product or service, or a better way to produce one.

______________________means competition.