How governments, businesses, and people use their money is called what?

Mrs Rice owns a cookie making business. She uses very high quality ingredients to make her cookies taste extra good. She needs to cut her costs, so she buys cheaper ingredients. What is the opportunity cost of buying the cheaper ingredients?

What is it called when businesses lower the price of a good in order to encourage people to buy it?

Mrs. Brown wants to go to Finland. She makes a list of monthly income, monthly expenditures (what she spends), and monthly savings. What is this an example of?

In Madison, you can find many _________, or places to buy goods.

What is it called when one region, business, or person focuses on producing one thing?

Competition is good for consumers because it keeps the _____________ low and the __________ high.