2. 200 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 300 Factors of Demand Basic Economics Economic Terms Early HistoryRight to Vote

3. -Economic idea that buyers will demand more of a product as price decreases? Row 1---100 Question

4. -Law of Demand Row 1---100 Answer

5. -This is the idea that a person’s demand for a product will reach a maximum no matter the price? Row 1---200 Question

6. -Diminishing Utility Row 1---200 Answer

7. -This is the concept that changes in price can affect changes in demand? Row 1---300 Question

8. -Elasticity Row 1---300 Answer

9. -In this situation, a change in price does not really affect demand greatly? Row 1---400 Question

10. -Inelastic Demand Row 1---400 Answer

11. -In this situation, a change in price can greatly affect demand? Row 1---500 Question

12. -Elastic Demand Row 1---500 Answer

13. -These are things which can be grown or manufactured? Row 2---100 Question

14. -goods Row 2---100 Answer

15. -These are the tools and machinery used to produce things? Row 2---200 Question

16. -capital goods Row 2---200 Answer

17. Row 2---300 Question -This term describes work that is done for someone else for a price?

18. -service Row 2---300 Answer

19. Row 2---400 Question -This is the idea that there is not enough of a product for everyone to have and this fact causes goods to have a value.

20. -scarcity Row 2---400 Answer

21. -This is the value assigned to a product according to the forces of supply and demand for that product. Row 2---500 Question

22. -price Row 2---500 Answer

23. -This is the amount of a good or service that is available for consumers to buy? Row 3---100 Question

24. -supply Row 3---100 Answer

25. -This is the amount of a good or service that consumers want to buy? Row 3---200 Question

26. -demand Row 3---200 Answer

27. -This is the point where the amount available and the amount desired intersect? Row 3---300 Question

28. -equilibrium price/ market price Row 3---300 Answer

29. -Situation when demand is greater than the supply of a product---price will usually increase? Row 3---400 Question

30. -shortage Row 3---400 Answer

31. -Situation when supply is greater than demand---price will usually decrease? Row 3---500 Question

32. -surplus Row 3---500 Answer

33. -Name one requirement to vote? Row 4---100 Question

34. - Row 4---100 Answer

35. -Name one requirement to vote? Row 4---200 Question

36. - Row 4---200 Answer

37. -This term means that you have passed all voting requirements and been given a voting station? Row 4---300 Question

38. -registered Row 4---300 Answer

39. -This term refers to all the people who are eligible to vote? Row 4---400 Question

40. -electorate Row 4---400 Answer

41. -Term that refers to the idea that people do not care about political issues? Row 4---500 Question

42. -apathy Row 4---500 Answer

43. -The first attempted English settlement in America was here? Row 5---100 Question

44. -Roanoke, NC Row 5---100 Answer

45. -This was the first successful English colony in America? Row 5---200 Question

46. -Jamestown Row 5---200 Answer

47. -This was the first government in the new colony and it was a form of representative democracy? Row 5---300 Question

48. -House of Burgesses Row 5---300 Answer

49. -What crop became very important to the success of the colony? Row 5---400 Question

50. -tobacco Row 5---400 Answer

51. -This term describes a person who promised to work for someone else for a number of years in exchange for a trip to America? Row 5---500 Question

52. -indentured servants Row 5---500 Answer