Economics Review - Mooney

A plan of how much money is available and how it will be spent.

• budget
• profit
• inventory
• interest

Anyone who uses goods and services.

• producer
• consumer
• shopper
• buyer

Consumers’ desire for goods or services.

• supply
• scarcity
• demand
• interest

Real items that consumers can buy.

• goods
• services
• inventory
• wage

Study of how people try to satisfy their needs and wants by getting the most from their scarce resources.

• Geography
• History
• Economics
• Shopping

The person or business that provides goods or services.

• consumer
• buyer
• seller
• producer

Money remaining after expenses have been paid.

• wage
• interest
• profit
• leftover

Work that is done for others.

• producer
• specialization
• division of labor
• services

Amount of stock, or supplies, on hand at any given time.

• human resources
• capital resources
• inventory
• profit

The price of borrowed money.

• interest
• opportunity cost
• wage
• budget