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economy vocab

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4.the struggle that goes on between buyers and sellers to get the best products at the lowest price
5.work performed by a person for someone else
6.tangible products that we use to satisfy our wants and needs
7.the factors of production that are used i the production of goods and services
8.reward offered to try to persuade people to take certain economic actions
10.the amount of a good or service that consumers are willing ans able to buy at a certain price
12.the amount of money exchanged for goods and services
14.using goods and services consumer preferences and price determine what is purchased
15.what is given up when a choice is made
1.the combining of human. natural. capital, and entrepreneurship resources to make goods and provide services
2.the total value, in dollars, of all the finial goods and services produced in a country in a year
3.The inability to satisfy all wants at the same time
9.selecting an item or action from a set of possible alternatives
11.the money a business receives for its product or services over and above its costs
13.the amount of goods and services the producers are willing and able to sell at a certain price

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