Economics Worksheet

An economy where supply, demand, and a system of pricing allow people to make the economic decisions through free interactions.
The study of decisions that go into making, distributing, and using goods and services
The amount producers are willing and able to produce.
Exchanging products without the use of money.
The economic principle requiring people to decide which goods and services to use or not use due to limited resources and unlimited wants.
The amount consumers are willing and able to buy.
When supply exceeds demand there is a _____.
A temporary situation where demand exceeds the supply.
A person, or company that supplies goods and services.
A person who purchases and uses goods or services is a/an _____.
The total amount of money in circulation in a country.
A decline in the level of prices for goods and services over time.
The central bank of the United States that regulates banks, credit unions, and sets monetry policy.
In a market economy, what determines prices and wages?
A rise in the level of prices for goods and services over time.