Economics Vocabulary

Front

SERVICES

Back

Things or activities you pay for that others do for you

Front

CONSUMERS

Back

People who buy and/or use goods and services to satisfy wants

Front

ENTREPRENEUR

Back

Someone who takes the risk of producing a product or starting a new business

Front

INCENTIVE

Back

Something that influences the behavior of people

Front

GOODS

Back

Products you can buy that satisfy people’s wants

Front

WANTS

Back

Things people like and desire

Front

NEEDS

Back

Things you must have to live

Front

CHOICE

Back

To make a decision

Front

INVEST

Back

Money used or given to help make a profit

Front

PROFIT

Back

The income a business makes after it pays its production costs