Economics and Business pages 1-2

Front

things that are nice to have but are not needed for survival

Back

wants

Front

things we MUST have for our survival - to live and thrive

Back

needs

Front

things that are made and we can buy

Back

goods

Front

things that other people do for us and we pay them

Back

services

Front

people who make products

Back

producers

Front

people who buy products

Back

consumers

Front

when there is not enough of a resource or product to meet demand

Back

scarcity

Front

anything that is needed to make a good or to supply a service

Back

resource

Front

moving products to different places

Back

distributing

Front

only certain amount and no more;

something that can run out

Back

limited