Lesson 1 Economic Opposites

  1. Social Studies
  2. 6 Grade
  3. Kurt Snyder
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Economic Opposites DIRECTIONS: Many economic terms have opposites. Use the definition of the vocabulary word that is provided for you to determine the definition of its opposite. PRODUCER: people or businesses that make and CONSUMER: sell products SUPPLY: the amount of a good or service that is DEMAND: available for use. SCARCITY: not having enough resources to meet SURPLUS: the consumer's needs COMMAND ECONOMY: an economic system MARKET ECONOMY: where the government controls the economy REVENUE: the amount of money earned by selling COSTS: goods and services COMPETITION: the struggle among producers for MONOPOLY: consumers’ money INFLATION: the general increase in prices DEFLATION: