Relier Pairs Economic SystemVersion en ligne Key Terms and Consepts par Beth Whittle 1 Market Economy and Command Economy 2 Scarcity 3 Law of Supply 4 Opportunity Cost 5 Demand falls 6 Law of Demand 7 Demand 8 Supply and Demand 9 Economics Explains how people satisfy their needs and wants by making choices determines the price of a product or service when the price for a good or service is too high A fall in the price of a good causes producers to reduce the quantity of the good they are willing to produce. This fact illustrates... shortage of resources amount of a good that consumers plan to purchase at a particular price as the price of a cheeseburger rises, the quantity of cheeseburgers demanded will decrease. This fact illustrates... giving up the chance to use a resource for one thing instead of another two basic types of economic systems
Créer jeu