Should use yarn install for installing dependencies, as it would correctly include the right dependency. There is some issues when using npm install as there are some version mismatch with Vue.
# install dependencies
$ npm install
# serve with hot reload at localhost:3000
$ npm run dev
# build for production and launch server
$ npm run build
$ npm run start
# generate static project
$ npm run generate
For detailed explanation on how things work, check out Nuxt.js docs.