| A | B |
|---|
| the amount of a good or service that is desired | DEMAND |
| a book written by Karl Marx that attacked capitalism and urged workers to revolt against it | COMMUNIST MANIFESTO |
| the amount of a good or service that is produced for sale | SUPPLY |
| a special tax paid to the government to insure retirement and other benefits | SOCIAL SECURITY TAX |
| the amount of money that is needed to make a product or provide a service | COST |
| a tax paid on purchases | SALES TAX |
| the amount of money that is needed to purchase a product or service | PRICE |
| a tax paid on the estimated value of a person's property | PROPERTY TAX |
| the lost opportunity to use a resource in a different way | OPPORTUNITY COST |
| an economic benefit that comes directly from someone's labor | SERVICE |
| the method that the government uses to charge the public for its services | TAXATION |
| the economic system that is based on private ownership of the means of production, profit and competition | CAPITALISM |
| a tax paid on a person's earnings | INCOME TAX |
| an economic system that the government does not control (capitalism) | FREE MARKET SYSTEM |
| when property is owned by individuals or groups of people | PRIVATE OWNERSHIP |
| the economic system that is the final stage of socialism and the government plans what to buy and sell | COMMUNISM |
| when the property is owned by the government for all of the people in the society | PUBLIC OWNERSHIP |
| an economic system where the means of production is owned by the government and the government plans what to buy and sell | SOCIALISM |
| when the government decides what goods and services will be produced to satisfy the needs of society | GOVERNMENT PLANNING |
| anything that is useful or needed to reach a goal | RESOURCE |
| when there are unlimited wants and limited resources | SCARCITY |
| business's desire to make money by selling goods or providing services | PROFIT MOTIVE |
| when there are more than one producer of the same product | COMPETITION |
| it is what is left over when you subtract the cost of a product or service from its price | PROFIT |
| people or countries that depend on each other for goods and services | INTERDEPENDENT |
| something that is produced (a product) | GOOD |
