| A | B |
|---|
| economics | study of how people meet their wants and needs |
| scarcity | having a limited quantity of resources to meet unlimited wants |
| demand | desire for a particular good or service |
| supply | amount of a good or service that is available for use |
| incentive | factor that encourages people to behave in a certain way |
| producers | person or business that makes and sells products |
| consumers | person or business that buys, or consumes, products |
| opportunity cost | cost of what you have to give up when making a choice |
