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Social Science
Economics
Unit 3 Economics
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Gravity
Terms in this set (12)
economy
An organized way in which people produce, selll,and buy things
economics
Is a science that study all about money, markets and currencies
currency
Coins and paper bills used as money
market
A group of buyers and sellers of a particular good or service
buyers
consumers who purchase goods or services
consumers
people who buy goods or services
seller
A person who sells goods or sevices
trade
Exchange of goods and services; barter
demand
Amount of goods and services people are willing to buy
supply
Amout of goods producers are able to produce
producer
a person who makes products or provides services that are used by other people.
scarcity
A limited supply in relation to demand; not enough
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