6th Grade Economics

Front

This includes sporting equipment, books, CDs and clothing- almost anything that you can touch.

Back

Goods

Front

Actions that people perform for others, including things such as piano lessons, haircuts, and airplane trips - things you cannot actually touch or hold.

Back

Services

Front

Limited availability of resources/not enough of something.

Back

Scarcity

Front

Goods that are ready and able to be used.

Back

Available

Front

Something you would like to have but do not need.

Back

Want

Front

Something you have to have to survive!

Back

Need

Front

The amount of an item that someone has to sell.

Back

Supply

Front

The amount of an item that consumers are willing to buy at different prices.

Back

Demand

Front

Goods from a foreign country brought into a country for use or sale.

Back

Import

Front

Goods and services sold by producers in one country to buyers in another country.

Back

Exports