Part 3-Define these important terms in your own words.

Scarcity:

Choice:

Trade-off:

Opportunity cost:

Supply:

Demand:

scarcity means something is not common, choice means what you want to do or what you want our of something, supply mean what one has to be given to minimize the need for something, demand means what one wants

1. means it belongs to you.   (d. unalienable)

2. a time when money loses its value.   (e. inflation)

3. a meeting of people organizations for a special purpose.   (a. convetion)

4. president of constitutional convention.   (b. george washington)

5. refuse to attend the constitutional convention.   (f. rhode island)

6. it’s congress favored the big states.   (g. virginia plan)

7. it’s congress favored the small states.   (i. new jersey plan)

8. did not sign the constitution.   (f. rhode island)

9. it’s vote made the constitution legal   (c. new hampshire)

10. the introduction of the constitution.   (a. convention)