Easy Medium Hard
100
What is a consumer?
People who buy goods and services
100
What is demand?
Consumers desire to buy goods and services
100
What is scarcity?
A limit to what we can have
200
What is supply?
An available amount of goods and services
200
What is a free market economy?
An economic system in which private people and companies and not the government own factories and stores
200
What is opportunity cost?
The thing you have to give up to get the thing you want
300
What is as import?
Goods brought into a country to be sold
300
What is competition?
The struggle among producers for the money consumers spend
300
What is manufacture?
To make goods
400
What is an export?
A product sent from one country to another to be sold






Free Market Economy

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