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Supply And Demand

Horizontales
Actions or activities that a person performs for another
Hope of reward or fear of penalty that encourages a person to behave in a certain way
Act of giving up one benefit to gain another
Political and economic system where government limits individual freedoms and requires obedience from citizens
Level of economic prosperity
Study of how people seek to satisfy their needs and wants by making choices
Desribes the gap between the limited quantity of resources available to meet unlimited wants
When consumers have the power to decide what gets produced
EConomic system that has som market based elements and some government involvement
Use of fewer resources then the economy is capable of using
Requires resources such as taxes to provide services in a mixed economy
Selling of enterprises operated by the government to individuals
Verticales
Any arrangement that allows buyers and sellers to exchange things
Any human made object that is used to produce other goods and services
Shows the interactions between households and and firms in a free market
Most desirable alternative somebody gives up as a result of a decision
Organization that uses resources to produce a product or service
Extra cost of adding one unit of something
Something necessary for survival
Items we desire