Economics Quiz Review #2

Match it! Select the correct answer from the pull down...Good luck!

If supply is low and demand is high, the price of an item will be

Maggie did not buy a shirt she wanted until it went on sale. What was her incentive to buy the shirt?

Which of the following are effects of scarcity?

What is the amount of goods and services consumers are willing to buy at a certain price?

What is the process of buying and using goods and services?

What is a natural resource that goes into producing a lemonade stand?

The workers in a factory are considered what type of resource?

What are the factors of production that are used to produce goods and services called?*