| A | B |
|---|
| Scarcity | The inability to satisfy all wants at the same time |
| Resources | Human, natural, capital, entrepreneurship |
| Choice | selecting an item |
| Opportunity Cost | What is given up when a choice is made |
| Price | the cost |
| Incentives | thins that incite or motivate |
| Consumer Sovereignty | customers determine through purchaces what will be sold |
| Supply | what buisnesses are willing and able to sell |
| Production | combining resources |
| Consumption | buying or using of a production |
| Profit | money afer expences have been paid |
| Competition | rivalry between two or more companys that premote better quality at lower prices |
| Demand | what consumers are willing and able to sell at a certain price. |
