Economics Study Guide
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good | show 🗑
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service | show 🗑
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need | show 🗑
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show | things you would like to have
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economy | show 🗑
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show | someone who requires goods and services for his or her own personal review
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producer | show 🗑
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market economy | show 🗑
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show | the financial gain received by selling something for more than it cost to make it
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show | a thing that motivates them; the idea that consumers need what they are offering
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competition | show 🗑
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show | process of developing newer, better things constantly
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show | the amount of something that is available
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show | the number of consumers who want it
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opportunity cost | show 🗑
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show | limited amount of resource available
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show | scarcity
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show | 1. People own the private property.
2. Open market where supply and demand determine prices.
3. Freedom of choices.
4. Self-interest motivates people.
5. Competition for profit.
6. Limited government role.
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The Law of Demand: | show 🗑
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The Law of Supply: | show 🗑
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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