Econ. & Federal Reserve-St. Pats

Economic system where government controls everything.

• Market
• Command
• Mixed
• Free Enterprise

The study of resources such as money, materials, and labor

• economics
• services
• producers
• goods

What is a service?

• A job

• A want

• A need

• Something you do for another person

What is a good?

• A need
• A baseball game
• Things people do for money
• Things that people make or grow

A person who uses and buys goods and services 

• money 
• producer 
• consumer 
• economics 

A person who makes goods or provides a service 

• goods 
• service producer 
• producer
• consumer 

Which of the following is not a good?

• Clothes
• Food
• Dog Walker
• Toys

Which of the following is not a service?

• Dry Cleaner

• Car Wash

• Grocery Store

• Babysitter

Things we buy that we can touch or hold

• services
• opportunity cost
• goods
• natural resources

Things that were not made by humans and are found in nature

• natural resources
• human resources
• capital resources
• services