Economics Part 1 5th grade

Front

objects people buy to satisfy their wants

Back

goods

Front

activities or work people do to satisfy the economic wants of others

Back

services

Front

Goods, like a hammer, that are produced to help make other goods.

Back

Capital resources

Front

people who are available to provide a service

Back

human resources

Front

person or corporation that makes goods for purchase

Back

producer

Front

the amount of a certain good that is available

Back

supply

Front

The amount of consumers who want a certain good

Back

Demand

Front

a person who purchases goods

Back

consumer

Front

When the supply of a certain good goes up, what will happen to the price of that good?

Back

go down

Front

When the demand for a certain good goes up, what will happen to the price?

Back

Goes up