The study of how people produce, distribute, and consume things to meet their basic needs
When resources are limited. (Not enough)
A person or business that provides goods and services
Items that people make or use
Things people do for others
Making or providing goods or services
People or Businesses that use goods and services
free market economy
Allows producers and consumers to make their own choices about what to buy
The difference between the selling price and producer's cost. (money made by selling things)
The amount of goods and services that are made.
The amount of items that consumers are willing to buy.
The making of goods to sell.
Bringing goods in from another country to sell.
Selling goods to another country.