Interaction of supply and demand determines --

What leads to the production of higher quality goods at a lower price?

Consumers determine, through their purchases, the goods and services that are produced. This idea is known as --

Who are the decision makers for the private sector in the U.S. economy?

What is the inability to satisfy all wants at the same time?

Combining human, natural, capital, and entrepreneurial resources to make goods and services is called --

According to the scenario above, in which economy is Tim operating?

According to the scenario above, the yard sale down the road is an example of --

According to the scenario above, Tim's earnings after all expenses have been paid are his --

Complete the circular flow diagram by filling in the blanks. Households provide _______ and Businesses pay _______