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Is the state of being scarce or in short supply; shortage.

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Is the most important city or town of a country or region, usually it's seat of government and administrative center.

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a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

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An expanse of land; an area of ground, especially in terms of its ownership or use.

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Is to work, especially hard physical work.

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Is an economic system in which traditions, customs, and beliefs help shape the goods and services the economy produces, as well as the rules and manner of their distribution.

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Is an economy in which production, investment, prices, and incomes are determined centrally by a government.

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Is an economic system in which production and prices are determined by unrestricted competition between privately owned businesses.

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Is an economic system combining private and public enterprise.

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Is an economic system in which private business operates in competition and largely free of state control.

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Is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. between economic agents.

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The activity or condition of competing.

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he desire for financial gain as an incentive in economic activity.

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A stock of a resource from which a person or place can be provided with the necessary amount of that resource.

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Is the quantity of a good that consumers are willing and able to purchase at various prices during a given period of time.

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Is the loss of potential gain from other alternatives when one alternative is chosen.

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Is the exclusive possession or control of the supply of or trade in a commodity or service.

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Is a state of limited competition, in which a market is shared by a small number of producers or sellers.

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is a type of imperfect competition such that many producers sell products that are differentiated from one another and hence are not perfect substitutes.

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A term that describes a market that has a broad range of competitors who are selling the same products.