Economic Terms

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

Is the inability to satisfy all wants at the same time.

This is the selecting of an item or action from a set of possible alternatives.

This is the amount of a good or serivice that consumers are willing and able to sell at a certain price.

Is the amount of a good or service that consumers are willing and able to buy at a certain price.

Is the using of goods and services.

Which of the following is NOT a resource that is used in the production of goods and services?

Things that motivate or incite people to purchase the goods and services.

This is the amount of money exchanged for a good or service.