2. Economics By: Karsyn

3. Opportunity Costs A opportunity cost is when you spend all of your money on others and give up buying something for yourself. Say I want to get a gift for my family and a gift for myself but I dont have enough so I get a gift for my family. And give up what I want.

4. Expenses Electricity Advertising Water Supplies A Building Say I am making a commercial I would have to pay the cost for the building or a room.

5. Employees A employee is someone who works for you For example People who work at the Jingle Bell Shop

6. Merchandise The items you buy or what the owners stock up on For example teddy bears or necklaces.

7. Scarcity Scarcity is when you dont have enough of something for everybody who wants one to have one For example everybody wanted a Wii but there was not enough for everybody so not everyone got one