What is Economics?

Multiple Choice

THE STUDY of how individuals and societies use resources to produce goods and services

• economics

• goods

• services

• producer

• consumer

Multiple Choice

an activity that a business or person trades for payment

• economics

• goods

• services

• producer

• consumer

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Open Ended

What other goods and services can you think of?

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Multiple Choice

the person or business that creates, sells, or offers a good or service

• economics

• goods

• services

• producer

• consumer

Open Ended

Give three examples of a PRODUCER.

Open Ended

What is a CONSUMER?

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Open Ended

What is another resource that might be used to set up and run a lemonade stand?