Economy Review

Front

Want

Back

something that people desire but is not necessary for survival

Front

Economy

Back

the process or system by which goods and services are produced, sold and bought

Front

Good

Back

a product that we buy and possess

Front

Service

Back

things that people do for us that we pay money for

Front

Supply

Back

the amount of goods or services available at a given time

Front

Demand

Back

how many people want the goods or services that are available

Front

Need

Back

something you and your family must have in order to live safe, healthy lives

Front

Producer

Back

a person, company or country that makes, grows or supplies goods for sale

Front

Consumer

Back

a person who purchases goods or services for personal use

Front

Scarcity

Back

shortage of the amount of available resources versus the wants and needs of the people