| A | B |
|---|
| Consumer | A person who buys and uses goods and services |
| Producers | Individuals and organizations that determine what products and services will be available for sale |
| Demand | The quantity of a good or service that consumers are willing and able to buy |
| Supply | Refers to the quantity of a good and service that businesses are willing and able to provide |
| Market Price | The point where supply and demand are equal |
| Supply Curve for a Product | Illustrates the relationship between the price of the product and the quantity businesses will supply |
| Competitors | Businesses offering very similar products to the same customers |
| Command Economy | System in which resources are owned and controlled by the government |
| Economic System | A nation's plan for answering the three economic questions |
| Consumer | A person who buys and uses goods and services |
| Economic Resources | Means through which goods and services are produced |
